The “all events test” is a test applied in the realization of income and expense by an accrual-basis taxpayer. The test requires (a) the fixing of a…

The question

The “all events test” is a test applied in the realization of income and expense by an accrual-basis taxpayer. The test requires (a) the fixing of a right to the income or liability to pay, and (b) the availability of reasonably accurate determination of such income or deduction during the taxable year. The "all events test" refers to: (2012 Bar Question)

1. A.A person who uses the cash method where all sales have been fully paid by the buyers thereof;
2. 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;
3. 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;
4. D.A person who uses the completed method, whereby the construction project has been completed during the year the contract was signed.

This question has not been answered yet.