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Jim operates his business on the accrual method and this year he received $4,000 for services that he intends to provide to his clients next year. Under what circumstances can Jim defer the recognition of the $4,000 of income until next year?

Respuesta :

Answer:

He can choose to defer the recognition of the income until next year, only if the income is not recognized for financial accounting purposes.

Answer:

He can choose to defer the recognition of the income until next year, only if the income is not recognized for financial accounting purposes.

Explanation:

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