Subject Tax Accounting:1Kodack is a begining tax researcher. He knows that the 1st stepof...Subject...

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Accounting

Subject Tax Accounting:1
Kodack is a begining tax researcher. He knows that the 1st stepof the research process is to get an understanding of the factssurrounding the transaction being researched. Describe the twobasic types of facts, the sources of facts for a research projectand any advice that may help Kodak.

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SolutionThere are two basic types of factsopen facts and closed facts Open facts have not yet occurredsuchas the facts associated with a proposed transaction Closed factshave already occurred Thedistinction between open and See Answer

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In: AccountingSubject Tax Accounting:1Kodack is a begining tax researcher. He knows that the 1st stepof...Subject Tax Accounting:1Kodack is a begining tax researcher. He knows that the 1st stepof the research process is to get an understanding of the factssurrounding the transaction being researched. Describe the twobasic types of facts, the sources of facts for a research projectand any advice that may help Kodak.