Under the cash receipts and disbursements method,the taxpayer reports income in the year:

Name: Under the cash receipts and disbursements method,the taxpayer reports income in the year:
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Question

Quizplus · Accepted Answer

Under the cash receipts and disbursements method, income is reported in the year it is received or actually received, and expenses are reported in the year they are paid or actually paid. Therefore, choice A is the correct answer as income is reported only when it is received.

Under the Cash Receipts and Disbursements Method,the Taxpayer Reports Income