The following entities are not involved in the farming or timber business; which of them may not use the cash method of accounting?
A) An S corporation with average annual gross receipts of $8 million
B) A partnership with average annual gross receipts of $12 million
C) A regular C corporation with average annual gross receipts of $10 million
D) A regular C corporation with average annual gross receipts of $4 million
E) More than one of the above.
Correct Answer:
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