Which of the following statements about methods of accounting is false?
A) The IRS has the right to determine if a taxpayer's method of accounting clearly reflects the taxpayer's income.
B) A taxpayer must request permission from the IRS to change its method of accounting for tax purposes.
C) A taxpayer engaged in more than one business can use a different method of accounting for each business.
D) Taxpayers must use the same method of accounting to compute taxable income as they use to compute financial statement income.
Correct Answer:
Verified
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