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

question 71

Multiple Choice

TQK,LLC provides consulting services and was formed on 1/31/X5.Aaron and ABC,Inc.each hold a 50% capital and profits interest in TQK.If TQK averaged $7,000,000 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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