Rachel Paid $1,000 for Supplies in 2016

question 92

Multiple Choice

Rachel paid $1,000 for supplies in 2016.In 2017,the vendor finds a $200 mistake on the invoice and refunds the overpayment to Rachel.Which of the following doctrines or concepts is the least helpful in determining how the 2017 transaction should be reported for tax purposes?

• A)Accounting Period.
• B)Tax Benefit Rule.
• C)Claim of Right.
• D)Assignment of Income.
• E)All-Inclusive Income.

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