jaydenforrest4259 jaydenforrest4259
  • 03-09-2017
  • Business
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When is income considered to be earned by an​ accrual-basis taxpayer?

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YellowGold
YellowGold YellowGold
  • 15-09-2017
When all the events have occurred which fix the right to receive the income and the amount of income can be determined with reasonable accuracy it considered to be earned by an accrual basis. According to accountingcoach.com, it is an accounting method under which revenues are recognized on the income statement when they are earned (rather than when the cash is received).
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