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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.


Definitions:

Rate of Diffusion

The speed at which an innovation spreads within a market or community.

Organizations

Social inventions for accomplishing common goals through group effort.

Diffusion

The manner in which a novel concept is transmitted across designated networks over time within a community.

Process Innovations

Improvements or significant changes in the methods or procedures by which goods and services are produced or delivered.

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