Which of the following businesses must use the accrual method of accounting to account for all or a part of its operations?
A) F Gas Corporation, a chain of 10 gas stations owned and operated by F.The corporation has gross receipts of $3 million annually.
B) The Clinic.This corporation is owned and operated by 80 physicians who provide a variety of health care services to the citizens of Houston.Annual billings to insurance companies and patients monthly exceed $20 million.
C) Whitewater Rafting of Idaho is a partnership owned by B and T.Gross receipts for the past several years have averaged $100,000.
D) D Drilling, a partnership owned by J and A.The partnership operates oil drilling rigs all over the world.Annual gross receipts consistently exceed $8 million.
E) More than one of the above and these are__________.
Correct Answer:
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