An Advance Payment Received in June 2019 by an Accrual

question 50

True/False

An advance payment received in June 2019 by an accrual basis and calendar year taxpayer for services to be provided over a 36-month period can be spread over four tax years.

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Definitions:

Competitive Advantage

The attributes or conditions that allow a company to produce goods or services better or more cheaply than its rivals.

Diversity Management

The process of acknowledging, understanding, and valuing differences among people in the workplace including race, gender, age, nationality, and others, to achieve better business performance.

Minority Groups

Minority groups are populations differing from the majority population in some characteristics and often experiencing disadvantage or discrimination.

Prison Inmates

Individuals who are kept in a penal institution as a result of being convicted of a criminal offense.