Question: Multiple Select Question Select all that apply If a company uses a cash method of accounting, which of the following statements will be true? (

Multiple Select Question
Select all that apply
If a company uses a cash method of accounting, which of the following statements will be true? (Check all that apply.)
Revenue is recognized when cash is received no matter when the sale actually took place.
Payments received in a noncash form (such as property or services) are NOT included in gross income.
Prepaying expenses other than interest can result in an immediate tax deduction if the prepayment will be used up within 12 months.
Expenditures for prepaid interest expense are deducted when paid.
Multiple Select Question Select all that apply If

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