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When May a CPA Use Estimates in the Preparation of a Client's

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Essay

When may a CPA use estimates in the preparation of a client's tax return?


Definitions:

Price Controls

Government-imposed limits on the prices charged for goods and services in a market, aimed at maintaining affordability or preventing inflation.

Hurricane

A powerful tropical cyclone with heavy rain and strong winds, originating over warm ocean waters and potentially causing significant damage upon landfall.

Availability

The state of being able to be used or obtained, typically referring to goods, services, or resources.

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