Jill is a cash basis attorney. This year, she performed services in connection with the formation of a corporation and received stock with a value of $4,000 for her services. By the end of the year, the value of the stock had decreased to $2,000. She continued to hold the stock. Jill must recognize $4,000 of gross income from the stock for the current year. a) true
b) false

a) true

Explanation:

Since in the question it is mentioned that the stock is received with the value of $4,000 and at the closing of the year the stock value is decreased to $2,000

But she continue to hold the stock and record $4,000 of the gross income from the stock

So at the time of income receipt, the realizable value is $4,000

Therefore the given statement is true

answer; i believe the correct answer is (sales promotion;

hi : ) i found this so i hope this !

"we first find value of tax in dollars.

the difference between the two prices   is: 23. 54 - 22 = 1.54

therefore the sales tax in dollars is 1.54

the tax % will be   (amount of tax / original cost price ) × 100

(1.54 / 22) × 100  → (0.07) × 100 =   7

so the tax rate is 7%

we can double check the answer.

7 % of 22   → (7/100) × 22 → 0.07 × 22 = 1.54

22 + 1.54 = 23.54"