Statements about methods of accounting

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Reference no: EM13124411

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.

Reference no: EM13124411

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