Bill Operates a Proprietorship Using the Cash Method of Accounting

question 20

Multiple Choice

Bill operates a proprietorship using the cash method of accounting, and this year he received the following payments:
-$100 in cash from a customer for services rendered this year
-a promise to pay $200 from a customer for services rendered this year
-tickets to a football game worth $250 as payment for services performed last year
-a check for $170 for services rendered this year that Bill forgot to cash
How much income should Bill realize on Schedule C?

• A) $100
• B) $300
• C) $350
• D) $270
• E) $520

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Definitions:

Intracranial Regulation

The mechanisms and conditions that maintain stable intracranial pressure and ensure adequate brain function.

Level Of Consciousness

A measure of a person's awareness, alertness, and responsiveness to stimuli, often used to assess the extent of impairment or recovery in brain function.

Primitive Reflexes

Automatic movements that are normal in infants but should disappear as the child develops, indicating maturity of the brain and nervous system.

Unequal Pupil Size

A condition where the pupils of the eyes are different sizes, which can be a sign of underlying health issues.