Answered: A sole proprietor may use both cash…

A sole proprietor may use both cash basis and accrual basis accounting, but only when the business and personal tax year ends are different. True False

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter10: Partnerships: Formation, Operation, And Basis

Section: Chapter Questions

Problem 48P

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Question

A sole proprietor may use both cash basis and accrual basis accounting, but only when the business
and personal tax year ends are different.
True
False

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