C corporations and partnerships with a corporate partner may use the cash method of accounting if average annual gross receipts for the three preceding tax years do not exceed $10 million.

Name: C corporations and partnerships with a corporate partner may use the cash method of accounting if average annual gross receipts for the three preceding tax years do not exceed $10 million.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The average gross receipts must not exceed $5 million.

C Corporations and Partnerships with a Corporate Partner May Use