A New Corporation May Generally Select One of the Following

question 53

Multiple Choice

A new corporation may generally select one of the following accounting methods with the exception of

• A)cash method.
• B)accrual method.
• C)retail method.
• D)hybrid method.

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Definitions:

Defective Furniture

Furniture that has manufacturing flaws, impairing its usability, safety, or aesthetic value.

Finance Company

A business that makes loans to individuals and/or corporations, besides banks and other traditional financial institutions.

Friendly Bank

Informal term for a bank with which an individual or business has a good relationship and favorable terms.