Bill Operates a Proprietorship Using the Cash Method of Accounting

question 29

Multiple Choice

Bill operates a proprietorship using the cash method of accounting, and this year he received the following:$100 in cash from a customer for services rendered this yeara promisefrom a customer to pay $200 for services rendered this yeartickets to a football game worth $250 as payment for services performed last yeara check for $170 for services rendered this year that Bill forgot to cash How much income should Bill realize on Schedule C?

• A)$100
• B)$300
• C)$350
• D)$270
• E)$520

---

Definitions:

Socialization Tactics

The strategies and methods used by an organization to integrate, acculturate, and train new members.

Cultural Change

Transformation in the values, norms, customs, and practices of a group or society over time.

Competitive Advantage

A condition or circumstance that puts a company in a favourable or superior business position compared to its competitors.

Adaptive and Flexible

The capacity to adjust and modify one’s behavior or operations in response to changing circumstances or environments.