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    Federal Taxation
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    Exam 4: Gross Income: Concepts and Inclusions
  5. Question
    An Accrual Basis Taxpayer Who Owns and Operates a Professional
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An Accrual Basis Taxpayer Who Owns and Operates a Professional

Question 26

Question 26

True/False

An accrual basis taxpayer who owns and operates a professional basketball team is allowed to allocate income from season ticket sales on the basis of the number of games played during the year.

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