Are there circumstances in which income is recognized even when a cash-basis taxpayer does not receive cash?

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Are there circumstances in which income is recognized even when a cash-basis taxpayer does not receive cash? Explain.

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Fundamentals Of Taxation 2015

ISBN: 9781259293092

8th Edition

Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone

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Question Posted: Feb 04, 2016 05:44 AM

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Are there circumstances in which income is recognized even when a cash-basis taxpayer does not receive cash?

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Yes A taxpayer can indirectly receive cash If a cashbasis taxpayer owes money ...View the full answer

Fundamentals Of Taxation 2015

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