If a taxpayer receives prepaid income for services that will be performed partially in the current year and partially in the next year $($within $12$ months$),$ which of the follow is true about the recognition of the income.

Group of answer choices

For a cash basis taxpayer, the income can be deferred to next year when the job is complete

For an accrual basis taxpayer, all of the income should be recognized in the current period

For a cash basis taxpayer, only the amount earned in the current period is recognized as income in the current period

For an accrual basis taxpayer, only the amount earned in the current period is recognized as income in the current period