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.

---

Definitions:

First Ph.D.

The awarding of the first Doctor of Philosophy degree, which historically marked the highest level of academic achievement in a specific field of study.

Conscious Experience

The awareness of one's own thoughts, feelings, and perceptions, including the environment around them; the subjective experience of being alive and aware.

Scientific Study

The systematic investigation of the natural world through experimentation and observation, aimed at discovering and acquiring knowledge.

Wilhelm Wundt

A German physiologist and psychologist who is generally considered the father of experimental psychology.