Beginning in 2018, the Cash Method May Be Used by All

question 14

True/False

Beginning in 2018, the cash method may be used by all taxpayers whose average annual gross receipts for the three prior years do not exceed $25 million.

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Definitions:

Population standard deviation

A measure of the dispersion of a set of data from its mean, calculated for the entire population.

Confidence interval

A range of values, derived from the sample statistics, that is likely to contain the value of an unknown population parameter.

Confidence interval

An estimated range of values calculated from sample data that is likely to include the true population parameter with a specified level of confidence.

Average hourly income

The average amount of money earned by an individual or group per hour worked.