CPA Associates, a cash- basis partnership with a calendar tax year, signs a contract for a 30- month subscription to an online tax research service, effective as of November 1. The firm pays the full $15,000 subscription bill on the November 1, 2018 subscription start date. For 2018 the firm can deduct
A) $15,000.
B) $1,000.
C) $2,000.
D) $7,500.
Correct Answer:
Verified
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