Norah, who gives music lessons, is a calendar-year taxpayer using the cash-basis method of accounting. On October 1 of this year, she received $1,200 for a one-year contract beginning on that date to provide 10 lessons. She gave 6 lessons this year. How much should Norah include in income this year?
A) $480
B) $360
C) $720
D) $1,200
D) $1,200
As a cash-basis taxpayer, she will recognize the income in the year received.
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A. Instrumentality B. Future orientation C. Psychological safety D. None of these
The first step in stakeholder impact analysis involves
A. identifying the opportunities and threats the stakeholders present. B. identifying the stakeholders that currently have, or potentially can have, a material effect on a company. C. formulating a stakeholder strategy to balance the different needs of various stakeholders. D. describing the economic, legal, ethical, and philanthropic responsibilities of the firm toward society.
Tax neutrality for asset exchanges is the exception rather than the rule.
Answer the following statement true (T) or false (F)
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A. benchmarking. B. forecasting. C. strategic maneuvering. D. cooperative action. E. environmental dynamism.