If a Special Agent Becomes Involved in the Audit of a Return

question 49

True/False

If a special agent becomes involved in the audit of a return, this indicates that the IRS suspects that fraud is involved.

Understand the process and importance of adjusting entries in financial statements.

Calculate financial transactions using the accrual basis of accounting.

Identify and record transactions in appropriate journals.

Distinguish between cash basis and accrual basis of accounting.