In general, a corporation can elect to use either the accrual or cash method of accounting no matter how large the corporation.
Large corporations (average gross receipts exceeding $5 million over the prior three years) are required to use the accrual method.

Question

Quizplus · Accepted Answer

Large corporations with average gross receipts exceeding $5 million over the prior three years are generally required to use the accrual method of accounting, not the cash method.

In General, a Corporation Can Elect to Use Either the Accrual