TQK,LLC provides consulting services and was formed on 1/31/X5.Aaron and ABC,Inc.each hold a 50% capital and profits interest in TQK.If TQK averaged $7,000,000 in annual gross receipts over the last three years,what accounting method can TQK use for X9?
A) Accrual method.
B) Cash method.
C) Hybrid method.
D) Accrual method or Cash method.

Question

Quizplus · Accepted Answer

The Answer of TQK,LLC provides consulting services and was formed on 1/31/X5.Aaron and ABC,Inc.each hold a 50% capital and profits interest in TQK.If TQK averaged $7,000,000 in annual gross receipts over the last three years,what accounting method can TQK use for X9?
A) Accrual method.
B) Cash method.
C) Hybrid method.
D) Accrual method or Cash method.

TQK,LLC Provides Consulting Services and Was Formed on 1/31/X5