Which One of the Following Entities Cannot Use the Cash

question 56

Multiple Choice

Which one of the following entities cannot use the cash method for tax purposes in 2019?

• A)A large almond farm with $40 million in average annual gross receipts.
• B)A corporation with $24 million in average annual gross receipts and 200 employees.
• C)A law firm operating as a personal service corporation with $5.4 million in average annual gross receipts.
• D)A small sole proprietorship with $150,000 in average annual gross receipts.
• E)All of these may use the cash method.

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Definitions:

Osborn's Creativity Process

A method of promoting creative thinking that involves brainstorming, problem identification, and the development of innovative solutions.

Fact Finding

An investigative process aimed at gathering information, often to resolve disputes or form policy.

Idea Finding

Idea finding refers to the process of discovering or generating new concepts, solutions, or strategies, often in the context of creativity and innovation.

Brainstorming

Brainstorming is a collaborative idea-generation technique that encourages participants to come up with a wide range of ideas on a specific topic, without immediate criticism or judgment.