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babunello [35]
3 years ago
13

With respect to income from services, which of the following is true?a. The income is always amortized over the period the servi

ces will be rendered by an accrual basis taxpayer.b. A cash basis taxpayer can spread the income from a 24-month service contract over the contract period.c. If an accrual basis taxpayer sells a 36-month service contract on July 1, 2017 for $3,600, the taxpayer's 2017 gross income from the contract is $600.d. If an accrual basis taxpayer sells a 24-month service contract on July 1, 2017, one-half (12/24) the income is recognized in 2018.e. None of these.
Business
1 answer:
shtirl [24]3 years ago
8 0

Answer:

C. If an accrual basis taxpayer sells a 36-month service contract on July 1, 2017 for $3,600, the taxpayer's 2017 gross income from the contract is $600.

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3 years ago
Annual general meeting what is it?
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3 years ago
A salesperson is trying to sell you a phone that has 16 GB of memory saying, "that’s enough space to record an hour of high qual
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4 0
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7 0
1 year ago
PLEASE HELP ME!
cestrela7 [59]
If I'm not mistaken the answer is B - demographics
8 0
2 years ago
Read 2 more answers
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