This practice exam can be taken as many times as needed to feel confident and prepared for the Taxes Exam.
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Question 1 of 10
1. Question
It is NOT best to run your business as a sole proprietor.
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Question 2 of 10
2. Question
What are the best resources to send your clients when they have questions about sales tax? (Select all that apply.)
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Question 3 of 10
3. Question
Taking an owners draw is how the owner gets paid in what type of entity? (Select all that apply.)
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Question 4 of 10
4. Question
You should usually provide the tax preparer financial statements in Accrual Basis.
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Question 5 of 10
5. Question
Which is NOT a type of tax?
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Question 6 of 10
6. Question
A CPA that you have been introduced to by the client emails you a request for financial statements. You should email the CPA after waiting a 24 hour period.
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Question 7 of 10
7. Question
Why would your books and tax return expenses not match? (Select all that apply.)
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Question 8 of 10
8. Question
Bonus Depreciation took the entire expense in one year. You must still use straight-line depreciation in the books.
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Question 9 of 10
9. Question
Not every business needs to file quarterly income taxes.
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Question 10 of 10
10. Question
Who can update the corporate minute book? (Select all that apply.)
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