CT Computer Corporation,an Accrual-Basis Taxpayer,sells Service Contracts on the Computers

question 104

Multiple Choice

CT Computer Corporation,an accrual-basis taxpayer,sells service contracts on the computers it sells.At the beginning of January of this year,CT Corporation sold contracts with service to begin immediately:

The amount of income CT Corporation must report for this year is

• A) $200.
• B) $1,000.
• C) $1,680.
• D) $5,000.

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