Tax in Small Business Entity Comparison Test
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Test - Tax in Small Business: Entity Comparison (2021) Test for new exam
- Exam (elaborations) • 3 pages • 2021
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Test - Tax in Small Business: Entity Comparison (2021) Test for new exam 
Test - Tax in Small Business: Entity Comparison (2021) Test 
Section 1 
Western Equipment is a partnership with three general partners. Which item is NOT likely to require 
reconciliation between the books and tax return? 
Gross receipts. 
Guaranteed payments. 
Depreciation. 
Meals deductible at 50%. 
Mark for follow up 
Question 2 of 5. 
Which business is required to complete Schedule L, M-1, and M-2 to report balance she...
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