All taxpayers that sell merchandise to their customers must use the accrual method to account for purchases and sales of merchandise.

Question

Quizplus · Accepted Answer

Taxpayers can use either the cash method or the accrual method for accounting, depending on which better reflects their income, unless they are required by tax laws to use a specific method due to their business structure or revenue.

All Taxpayers That Sell Merchandise to Their Customers Must Use