A Taxpayer Obtains Permission to Change an Accounting Method

question 99

Multiple Choice

A taxpayer obtains permission to change an accounting method.The change will result in a positive adjustment to income.To help in managing its cash flow,the taxpayer would like to spread the change over multiple years.In order to take advantage of this opportunity,the net positive adjustment must exceed

• A)$25,000.
• B)$3,000.
• C)$10,000.
• D)$0.

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Definitions:

Business Model Canvas

A strategic management template used for developing new or documenting existing business models. It outlines nine key segments including customer segments, value propositions, and revenue streams.

Business Idea

A concept that can be used for commercial purposes, usually centering around a product or service that can be offered for money.

Value Proposition

A statement that summarizes why a consumer should buy a product or use a service, highlighting the unique value the product or service provides.

Company Overview

A summarized description of what a company does, its mission, its products or services, market it serves, and its unique selling propositions.