Exit CPA-REGULATION CPA Regulation
Question 3 of 5
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Q3 Single choice

A cash basis taxpayer should report gross income:

  • A

    Only for the year in which income is actually received in cash.

  • B

    Only for the year in which income is actually received whether in cash or in property.

  • C

    For the year in which income is either actually or constructively received in cash only.

  • D

    For the year in which income is either actually or constructively received, whether in cash or in property.

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