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Question 5: a) Describe in detail the All-event test to determine Income recognition for Accrual...

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Question 5: a) Describe in detail the All-event test to determine Income recognition for Accrual method taxpayer. When does an accrual taxpayer have to recognize an income in the scenario that the transaction take place across a period of time? b) How do the IRS decide if a business is a small business? Describe in detail the test for small business

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