Fill This Form To Receive Instant Help
Fill This Form To Receive Instant Help
Homework answers / question archive / Which of the following is a correct statement regarding the "open reporting" method of recognizing gain pursuant to the Supreme Court's decision in Burnet v
reporting" method of recognizing gain pursuant to the Supreme Court's decision in Burnet v. Logan, 51 S. Ct. 550 (S. Ct. 1931)?
Select one:
a. It is correct to say that the installment sales rules governing contingent payment sales override the Supreme Court's holding in Burnet v. Logan, 51 S. Ct. 550 (S. Ct. 1931).
b. Warren Jones v. Comm., 36 AFTR 2d 75-5954, (CA9 1975) overturned the Supreme Court's holding in Burnet v. Logan.
c. Philadelphia Park Amusement Co. v. United States, 46 AFTR 1293, 126 F.Supp. 184 (Ct Cl 1954), overturned the Supreme Court's holding in Burnet v. Logan.
d. The method of gain reporting under Burnet v. Logan is also referred to as the "fixed period" method.
e. None of the above.
