In the Case of an Accrual Basis Taxpayer, an Item

question 87

Multiple Choice

In the case of an accrual basis taxpayer, an item of income:

• A)Is not recognized until cash is received.
• B)From services is never recognized until the services are performed.
• C)Is not recognized if the customer can return the goods.
• D)Is recognized when all the events have occurred to fix the taxpayer's right to receive the income and the amount of the income can be determined with reasonable accuracy.
• E)None of these.

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Definitions:

Videoconferencing

A technology that allows users in different locations to hold face-to-face meetings without having to move to a single location physically.

Telepresence

Technology that allows a person to feel as if they are present, to give the appearance of being present, or to have an effect, somewhere other than their true location.

UC

Unified Communications, which integrates multiple methods of communication, such as email, voice, and video conferencing, into a single interface.

Communication

The act of transferring information from one place, person, or group to another.