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Newco Corporation has asked you to help determine whether it should use the accrual method or the cash method of accounting. What are the tax issues involved in making this dete…

Newco Corporation has asked you to help determine whether it should use the accrual method or the cash method of accounting. What are the tax issues involved in making this dete…
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Newco Corporation has asked you to help determine whether it should use the accrual method or the cash method of accounting. What are the tax issues involved in making this determination?

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User Keysersoze
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1 Answer

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Answer: when using the accrual basis the income will be taxed when earned and when using the cash basis it will be taxed upon receipt of the payments

Step-by-step explanation:

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User Joseph Anderson
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