Indicate Which of the Following Statements Is/are Correct

question 96

Multiple Choice

Indicate which of the following statements is/are correct:
I.An accrual basis taxpayer who gives a creditor his note payable in payment of a claim may deduct the related expense when the note is given.
II.When a cash basis taxpayer uses a credit card to pay for an expense it can deduct the expense when the expense is charged to the credit card..
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• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Both statements are correct.
• D)Neither statement is correct.

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Definitions:

Prospect's Objection

A potential customer's expressed concerns or doubts about a product or service during a sales process.

Assumptive Close

A sales technique that assumes the customer has already agreed to purchase and moves directly to the logistics of the transaction.

Salesperson

An individual who sells products or services, often directly to customers, using persuasive techniques to achieve sales goals.

Acknowledge

The act of recognizing or admitting the existence, truth, or validity of something.