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Which of the following statements is false with respect to the standard mileage rate? Multiple...

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Question

Accounting

Which of the following statements is false with respect to the standard mileage rate?

Multiple Choice

The standard mileage rate cannot be used on a taxi.

The standard mileage rate encompasses depreciation.

The taxpayer can have an unlimited number of autos and use the mileage rate.

Section 179 cannot be used on a standard mileage rate auto.

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