A deficit in current E & P is treated as occurring ratably during the year, unless the taxpayer can show otherwise
a. True
b. False
Indicate whether the statement is true or false
True
RATIONALE: Any loss in current E & P is usually treated as occurring ratably during the year. However, if the taxpayer can demonstrate that an identifiable event causes the loss (e.g., a capital loss from the sale of a particular stock), the loss may be fixed as of that time.
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Which of the following is least effective while searching for anomalies?
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Always agreeing with the leader is good for ______.
a. the leader b. the follower c. the organization d. none of these groups
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