DEVRY ACCT 553 Week 3 Quiz Check this A+ tutorial guideline at http://www.assignmentclick.com/acct553/acct-553-week-3-quiz For more classes visit http://www.assignmentclick.com ACCT 553 Week 3 Quiz (TCO A) A taxpayer may litigate a tax dispute without first paying the tax in the: (TCO F) A business bad debt is deductible for tax purposes as a(n): (TCO I) Under the cash method of tax accounting, tax deductions are generally taken when: (TCO A) Which of the following constitutes tax evasion? (TCO C) Which of the following items is not subject to federal income tax? (TCO B) Sam owes Bob $8,000. Bob cancels (forgives) the debt. The cancellation is not a gift, and Sam is bankrupt. Which of the following statements is correct concerning the impact of this transaction? (TCO I) Johnny, a cash basis taxpayer, owns two rental properties. Based on the following information, compute the amount that he must include in his 2012 gross rental income.