Both NK and CS are closely held corporations. NK's tax returns for the last five years reflect

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Both NK and CS are closely held corporations. NK's tax returns for the last five years reflect average taxable income of $90 million. CS's tax returns for the same period reflect average taxable income of $90,000. Discuss the reasons that the IRS might choose to audit NK rather than CS.
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Intermediate Accounting

ISBN: 978-0176509736

10th Canadian Edition, Volume 1

Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,

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