Question

9) Most changes in accounting method require IRS approval. True or False

10) Dividends declared in 2019, and paid in 2020, are included in the income of the recipient when he is paid, regardless of whether he is on a cash or accrual basis. True or False

11) An insurance sales representative who earns commissions that are made available to her in the taxable year, but who does not take them in that year, must report them as part of that year's taxable income. True or False

12) A taxpayer makes a legal assignment to an outside party of a salary check she is to receive in the future. the taxpayer still must report the salary check as her own compensation income. True or False

Answer 1

9) True

Changes in accounting method requires IRS approval.

10) false

Dividend declered in 2019 are not to be included in income of recipient.

11) True

That income must report in the year's taxable income

12 ) True

The tax payer must report the salary check as her own compensation income.