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13) A taxpayer may use a cash basis for one business and an accrual basis for another business. True or False
14) For a cash method taxpayer, expenses paid with borrowed funds are deductible in the year in which the loan is repaid. True or False
15) In general, a CPA on the cash basis method will never have a bad debt deduction. True or False
16) A cash-basis taxpayer may deduct prepaid business expenses currently regardless of the period of time to which the expenses relate. True or False
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