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O $50,000 $60,000 O $70,000 $80,000 Mark for follow up Question 37 of 75. Which...

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Accounting

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O $50,000 $60,000 O $70,000 $80,000 Mark for follow up Question 37 of 75. Which statement regarding book capital accounts and the tax capital account is incorrect? O Both can have a negative balance. O The book capital account and the tax capital account may vary due to depreciation. The book capital account reflects adjusted basis while the tax capital account reflects the fair market value. The book capital account and the tax capital account may vary because of a revaluation of assets. Mark for follow up Back Save / Return Later Summary Next >>

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