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American Bankers Association Exam CTFA Topic 1 Question 12 Discussion

Actual exam question for American Bankers Association's Certified Trust and Financial Advisor exam
Question #: 12
Topic #: 1
[All Certified Trust and Financial Advisor Questions]

The deduction must be based on identification of specific doubtful amounts and is limited to the maximum of doubtful debts identified in the year or a preceding year and 75 percent of the amount reported for statutory purposes.

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Suggested Answer: B


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