A Small Corporation Selling Goods Would Prefer to Use the Cash

question 8

Multiple Choice

A small corporation selling goods would prefer to use the cash method to simplify its accounting records.It will be able to continue using the cash method as long as average gross receipts for its three prior years do not exceed

• A)$26 million.
• B)$10 million.
• C)$3 million.
• D)$25 million.