Business

9 August, 06:28

The tax concept and economic concept of income are in agreement on which of the following:

a. Rent income for 2020 collected in 2019 is income for 2019.

b. The increase in value of assets held for the entire year should be included in income for the year.

c. The fair rental value of an owner-occupied home should be included in income.

d. All of these choices are correct.

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