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(Solved): Which of the following statements about business tax returns is true? O Tax return balance sheets di ...



Which of the following statements about business tax returns is true?
O Tax return balance sheets distinguish between short-term notes payable and current portion of
long-term debt.
O Tax returns disclose actual bad debt write-offs.
O The tax return does not disclose sales returns and allowances.
O The amount for total assets on the balance sheet included in a tax return is different from the
amount shown on the GAAP financial statements.



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Answer The correct answer is d. The amount for total assets on the balance sheet included in a
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