Which of the Following Can Be Income Deferral Transactions

question 102

Multiple Choice

Which of the following can be income deferral transactions?
I.Sale of municipal bonds.
II.Involuntary conversions of property.
​

• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Both statements are correct.
• D)Neither statement is correct.

---

Definitions:

Routines

Repetitive sequences of actions regularly followed in daily operations or processes.

Well-Known

Being widely recognized or familiar to many people.

Desired State

The preferred or targeted condition or status that an individual, group, or organization aims to achieve.

Standardized Way

A method or procedure that has been uniformly applied and adopted across different situations or environments to ensure consistency.