Under the Cash Method of Accounting,all of the Following Are

question 57

Multiple Choice

Under the cash method of accounting,all of the following are true with the exception of:

• A)Fixed assets are always expensed as the taxpayer pays for the assets.
• B)Gross income includes the value of property received.
• C)To some extent,a taxpayer may control the year in which an expense is deductible by choosing when to make the payment.
• D)Income is reported in the tax year in which payments are actually or constructively received.

---

Definitions:

Spirituality

A broad concept that encompasses a sense of connection to something greater than oneself, which can involve religious traditions, personal growth, or the quest for meaning in life.

Supernatural

Refers to phenomena or entities beyond the laws of nature and the observable universe, often attributed to divine, mystical, or ghostly origins.

Practiced Religion

The engagement in or observance of rituals, ceremonies, and moral codes associated with a particular faith or belief system.

Universal

Something that is applicable everywhere or in all cases, often used to describe concepts, principles, or conditions that are globally recognized.