All corporations that maintain inventory for sale to customers are required to use the accrual method of accounting for all income and expense items.

Name: All corporations that maintain inventory for sale to customers are required to use the accrual method of accounting for all income and expense items.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Corporations with average annual gross receipts of $25 million or less over the prior three years may use the cash method of accounting, even if they maintain inventory.

All Corporations That Maintain Inventory for Sale to Customers Are