This practice exam can be taken as many times as needed to feel confident and prepared for the Taxes Exam.
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It is NOT best to run your business as a sole proprietor.CorrectIncorrect
What are the best resources to send your clients when they have questions about sales tax? (Select all that apply.)CorrectIncorrect
Taking an owners draw is how the owner gets paid in what type of entity? (Select all that apply.)CorrectIncorrect
You should usually provide the tax preparer financial statements in Accrual Basis.CorrectIncorrect
Which is NOT a type of tax?CorrectIncorrect
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.CorrectIncorrect
Why would your books and tax return expenses not match? (Select all that apply.)CorrectIncorrect
Bonus Depreciation took the entire expense in one year. You must still use straight-line depreciation in the books.CorrectIncorrect
Not every business needs to file quarterly income taxes.CorrectIncorrect
Who can update the corporate minute book? (Select all that apply.)CorrectIncorrect