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

question 121

Multiple Choice

TQK,LLC, provides consulting services and was formed on 1/31/X5. Aaron and ABC, Incorporated, each hold a 50percent capital and profits interest in TQK. If TQK averaged $29,000,000 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

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