_____ 5.The all-events test is met for an accrual-basis taxpayer when the liability is determined and the service has been performed.

Question

Quizplus · Accepted Answer

The all-events test requires that all events have occurred to establish the fact of the liability, and the amount of the liability can be determined with reasonable accuracy. For accrual-basis taxpayers, this test is met when the liability is determined and the service has been performed. Therefore, the statement is true.

_____ 5The All-Events Test Is Met for an Accrual-Basis Taxpayer When