A&B Corporation provided services for a client in December of last year (2019). A&B Corporation...
70.2K
Verified Solution
Link Copied!
Question
Accounting
A&B Corporation provided services for a client in December of last year (2019). A&B Corporation invoiced the client in January 2020 of the current year. The client paid in February 2020. A&B Corporation has a tax year end December 31. Which of the following are accurate? Check all that apply. Check All That Apply IfA&B Corporation uses the cash-method of accounting, they will recognize the income in 2019 If A&B Corporation uses the cash-method of accounting, they will recognize the income in 2020 1 A&B Corporation uses the accrual-method of accounting, they will recognize the income in 2019 1 A&B Corporation uses the accrual-method of accounting, they will recognize the income in 2020
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
