Taxation, 2012 Bar — Question 17

MULTIPLE CHOICE

The "all events test" refers to: a) A person who uses the cash method where all sales have been fully paid by the buyers thereof; b) A person who uses the installment sales method, where the full amount of consideration is paid in full by the buyer thereof within the year of sale; c) A person who uses the accrual method, whereby an expense is deductible for the taxable year in which all the events had occurred which determined the fact of the liability and the amount thereof could be determined with reasonable accuracy; d) A person who uses the completed method, whereby the construction project has been completed during the year the contract was signed.

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