C corporations with annual average gross receipts of $26 million or more are allowed to use the cash method of accounting for at least the first two years of their existence.

Question

Quizplus · Accepted Answer

C corporations with annual average gross receipts of $26 million or less are allowed to use the cash method of accounting, not those with receipts of $26 million or more.

C Corporations with Annual Average Gross Receipts of $26 Million