Which of the following can use the cash method of accounting?
A) An individual taxpayer operating a sole proprietorship with gross receipts of $35 million for which inventory is an income producing factor.
B) A corporation with gross receipts of $26 million.
C) A partnership with gross receipts of $900,000 but for which inventory is an income-producing factor.
D) A manufacturing corporation with gross receipts of $37.2 million.
Correct Answer:
Verified
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