Under Both the Cash and Accrual Method of Accounting for Tax

question 65

True/False

Under both the cash and accrual method of accounting for tax purposes, a taxpayer may elect to defer prepaid revenue.

---

Definitions:

Pathologic Condition

Any condition that is marked by signs and symptoms of disease or a deviation from normal health.

Aging

The biological process of growing older, which includes changes in physical appearance, function, and the increased likelihood of diseases.

FPS-R

A tool used for the assessment of pain, where FPS stands for Faces Pain Scale – Revised, allowing patients to rate their pain by pointing to faces expressing varying degrees of distress.

Physiologic Changes

Natural alterations in the body's functionings that occur due to various factors, such as aging, disease, or environmental changes.