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On January 1, 2018, an accrual basis taxpayer entered into a contract to provide termite inspection service each month for 24 months. The amount received for the contract was $2,400. The taxpayer reported $1,200 as income on its financial statement for 2018, and should do the same for its tax return.
Situational Factor
External influences that can impact consumer behavior or the outcome of marketing decisions at a given time.
Functional Needs
The basic requirements that products or services must meet to be considered useful and satisfactory by consumers.
Psychological Needs
Fundamental human motivations that drive behavior, such as the need for esteem, belonging, and self-actualization.
Psychological Needs
Fundamental human motivations that encompass aspects like autonomy, competence, and relatedness, influencing behavior and well-being.
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