Speak Corporation,a calendar-year,cash-basis taxpayer,sells packages of foreign language lessons to individuals planning to work overseas.In December 2017,it sold and received payment for $600,000 of 24-month lesson packages to be provided evenly through 2018 and 2019.Speak Corporation will recognize the $600,000 of income

Question

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A)A cash-basis taxpayer must report the income in the year it is actually or constructively received.

Speak Corporation,a Calendar-Year,cash-Basis Taxpayer,sells Packages of Foreign Language Lessons to Individuals