Which of the Following Criteria Is Not Required to Be

question 231

Multiple Choice

Which of the following criteria is not required to be met under the tax concept of income?

• A) Cash must be received.
• B) Income must be realized.
• C) There must be economic benefit.
• D) Income must be recognized.

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Definitions:

All-You-Can-Eat Buffets

Dining establishments offering customers the opportunity to eat unlimited amounts of food for a fixed price.

Heavier

Describes an object that has a greater weight compared to another object or relative to what is typical.

Safer Cars

Vehicles that are engineered and designed with advanced safety features to minimize the risks and consequences of accidents.

Accident Forgiveness

An auto insurance feature that protects the insured from a rate increase following the first at-fault accident they cause.