CPA Associates,a cash basis partnership with a calendar tax year,signs a contract for a 30-month subscription to an on-line tax research service,effective as of November 1.The firm pays the full $15,000 subscription bill on the November 1,2016 subscription start date.For 2016 the firm can deduct
A) $15,000.
B) $1,000.
C) $7,500.
D) $2,000.
Correct Answer:
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