For Purposes of the Accrual Method of Accounting,the Economic Performance

question 81

Multiple Choice

For purposes of the accrual method of accounting,the economic performance test is met when

• A)the property or services are actually provided.
• B)the amount of the item can be reasonably estimated.
• C)all events have occurred that establish the fact of a liability.
• D)all events have occurred that fix the taxpayer's right to receive income.

---

Definitions:

Condom

A barrier device commonly used during sexual intercourse to reduce the risk of pregnancy and sexually transmitted infections (STIs).

Internal Locus of Control

The belief that individuals can control their own fate and the outcomes of their actions.

External Locus of Control

A belief system where individuals perceive their successes or failures to be a result of external factors or forces beyond their control.

Stress

A reaction of the body and mind to demanding or threatening situations, invoking a physiological and psychological response.