Under the Cash Method of Accounting,all of the Following Are

question 57

Multiple Choice

Under the cash method of accounting,all of the following are true with the exception of:

• A)Fixed assets are always expensed as the taxpayer pays for the assets.
• B)Gross income includes the value of property received.
• C)To some extent,a taxpayer may control the year in which an expense is deductible by choosing when to make the payment.
• D)Income is reported in the tax year in which payments are actually or constructively received.

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