A Crucial Question Concerning Income Is When to Recognize It

question 20

Multiple Choice

A crucial question concerning income is when to recognize it (in which accounting period income should income be taxed?) . Which of the following help resolve the problems of timing?
I.Realization Concept.
II.Accounting Method.
III.Constructive Receipt.
IV.Substance-Over-Form Doctrine.
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• A)Statements I and II are correct.
• B)Only statement I is correct.
• C)Only statement II is correct.
• D)Statements I, II, and III are correct.
• E)Statements I, II, III, and IV are correct.