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2. Select the choice which identifies all of the correct answers: 1. General Rule: An accrual basis taxpayer recognizes income when it is earned. 2.

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2. Select the choice which identifies all of the correct answers: 1. General Rule: An accrual basis taxpayer recognizes income when it is earned. 2. General Rule: A cash basis taxpay recognizes income when it is received a. b. I is correct 1 and 2 are correct. c. 2 is correct. d. None of the above

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