One of the bases other than GAAP or IFRS is the Financial reporting framework for small- and medium-sized businesses. This basis
A) has not yet been approved by the AICPA.
B) is the same as the income tax basis.
C) draws upon a blend of traditional accounting principles and accrual income tax methods of accounting.
D) must be used by a business with sales under $1 million.
Correct Answer:
Verified
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