All of the following are acceptable methods of accounting for revenue and expenses for tax purposes except:
A)Cash method
B)Accrual method
C)Percentage-of-completion
D)Hybrid method
E)All are acceptable methods

Question

Quizplus · Accepted Answer

All of the listed methods (cash, accrual, percentage-of-completion, and hybrid) are acceptable methods of accounting for revenue and expenses for tax purposes. The best choice is E since it agrees with IRS regulations.

All of the Following Are Acceptable Methods of Accounting for Revenue