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help The Cable TV Company, an accrual-basls taxpayer, atlows its customers to pay by the month, by the year, or two years in adyance. On
help The Cable TV Company, an accrual-basls taxpayer, atlows its customers to pay by the month, by the year, or two years in adyance. On December 1 , 2020. the company collected the following amounti anolicable to future servinas wrnat is me amount of gross income that Cable TV Company must report for 2021? A) 510,000 8) 554,000 C) 590,000 D) $123,000 QUESTION 2 Bart buys a home in 2011 for 5100,000 . The price of the home fluctuates over the next few years In 2012, the home is worth $95,000. In 2017 , the home is worth $120.000. In 2021, the home is now worth 5130,000 . Bart is not taxed on the fuctuation in value because he never sells the house. The tax concept of income does not require the recognition of unrealized gains and losses because of A) Economic cansiderations B) Political convenience C) Administrative convenience D) Soclal considerations
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