Which of the Following Methods of Accounting Is Never Permissible

question 84

Multiple Choice

Which of the following methods of accounting is never permissible for computing taxable income?

• A) Cash receipts and disbursements method
• B) Accrual method
• C) Hybrid method that combines the cash and accrual methods
• D) All of the above are permissible methods of accounting.

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Definitions:

Virtual Close

A process in accounting where a company's books can be closed quickly and efficiently, allowing for almost immediate financial reporting.

Performance Measures

Metrics and indicators used to evaluate and assess the effectiveness, efficiency, and success of an organization's activities and employees.

Planning And Control System

A framework used by organizations to align their strategic objectives with practical actions, monitor performance, and manage resources.

Flatter Structure

This refers to an organizational design with fewer layers of management and a wider span of control, aimed at improving communication and decision-making efficiency.