Franklin Company Began Business in 2008 and Has Consistently Used

question 44

True/False

Franklin Company began business in 2008 and has consistently used the cash method to report income from the sale of inventory in income tax returns filed for 2008 through 2012.As a result of an audit by the IRS, Franklin was required to change to the accrual method of accounting beginning with 2013. The net adjustment due to the change is a positive adjustment to income. The adjustment may be spread equally over 2013 and the three following years.

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Definitions:

Carpal Tunnel Syndrome

A condition caused by pressure on the median nerve in the wrist, leading to pain, numbness, and other symptoms in the hand and arm.

Manual Tasks

Physical work carried out by individuals mostly involving the use of their hands and physical effort, as opposed to work done using machines or technology.

Continual Basis

An ongoing, without interruption, process or activity.

Job-Related Stress

The physical and emotional strain that can occur as a result of job pressures, demands, or work environment.