Only Accrual Basis Individuals Are Required to Accrue Original Issue

question 77

True/False

Only accrual basis individuals are required to accrue original issue discount on a bond as annual interest income.

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Definitions:

Early Majority

A segment of consumers in the diffusion of innovation theory who adopt new products or services after a careful review once they have been proven by early adopters.

Reese's Pieces

A brand of candy consisting of peanut butter filling encased in a shell of milk chocolate, marketed by The Hershey Company.

Late Majority

A category within the diffusion of innovations theory that refers to individuals who adopt a new technology or concept after the average member of a society.

Early Majority

A group in the diffusion of innovation model, representing consumers who adopt new products or technologies just before the average person and after the innovators and early adopters.