A partnership cannot use the cash method of accounting if one of the partners is a C corporation.

Name: A partnership cannot use the cash method of accounting if one of the partners is a C corporation.
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Question

Quizplus · Accepted Answer

A partnership can use the cash method of accounting regardless of whether one of the partners is a C corporation, unless it meets specific criteria that require the use of the accrual method (e.g., having inventory or gross receipts above a certain threshold).

A Partnership Cannot Use the Cash Method of Accounting If