An Advance Payment Received in June 2012 by an Accrual

question 41

True/False

An advance payment received in June 2012 by an accrual basis and calendar year taxpayer for services to be provided over a 36-month period can be spread over four tax years.

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Definitions:

Accreditation

The documentation of official authorization or approval of a program.

Competency-Based Education

An educational approach focusing on learners demonstrating mastery of specific skills or competencies as opposed to traditional time-based learning.

Medical Assisting Programs

Educational tracks designed to prepare individuals for careers in supporting healthcare professionals in clinics, hospitals, and private practices.

Professional Level

A stage or degree of occupational competency and expertise that is recognized as proficient by peers and employers.