In relation to thesource of income which of the following statements isleast correct?Select...In relation...

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Accounting

In relation to thesource of income which of the following statements isleast correct?
Select one:
1. The source of business profits will be the place where thetrader undertakes their trading activities.
2. The source of pension income will be the location of the fundthat is paying the pension.
3. The source of interest income will generally be where theloan contract is entered into.
4. The source of salary and wage income will be the place wherethe contract of employment is entered into.
5. The source of dividend income will be the location of thefund out of which the dividend is paid.
Which of the followingstatements is least correct?
Select one:
1. An accrual basis of accounting would be appropriate for asolicitor with one part-time secretary.
2. A cash basis of accounting for tax would be appropriate for aperson earning salary and wage income.
3. An accrual basis of accounting would be appropriate for aperson operating a grocery store.
4. A cash basis of accounting would not be appropriate for aperson operating a grocery store.
5. A cash basis of accounting would be appropriate for anaccountant working on their own.

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In relation to the source of income which of the following statements is least correct Select one 1 The source of business profits will be the place where the trader undertakes their trading activities 2 The source of pension income will be the location of the fund that See Answer

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In: AccountingIn relation to thesource of income which of the following statements isleast correct?Select...In relation to thesource of income which of the following statements isleast correct?Select one:1. The source of business profits will be the place where thetrader undertakes their trading activities.2. The source of pension income will be the location of the fundthat is paying the pension.3. The source of interest income will generally be where theloan contract is entered into.4. The source of salary and wage income will be the place wherethe contract of employment is entered into.5. The source of dividend income will be the location of thefund out of which the dividend is paid.Which of the followingstatements is least correct?Select one:1. An accrual basis of accounting would be appropriate for asolicitor with one part-time secretary.2. A cash basis of accounting for tax would be appropriate for aperson earning salary and wage income.3. An accrual basis of accounting would be appropriate for aperson operating a grocery store.4. A cash basis of accounting would not be appropriate for aperson operating a grocery store.5. A cash basis of accounting would be appropriate for anaccountant working on their own.