Copper Corporation,a C Corporation,had Gross Receipts of $5 Million in 2012,$6

question 48

Multiple Choice

Copper Corporation,a C corporation,had gross receipts of $5 million in 2012,$6 million in 2013,and $3 million in 2014.Gold Corporation,a personal service corporation (PSC) ,had gross receipts of $4 million in 2012,$7 million in 2013,and $5 million in 2014.Which of the corporations will be allowed to use the cash method of accounting in 2015?

• A)Copper Corporation only.
• B)Gold Corporation only.
• C)Both Copper Corporation and Gold Corporation.
• D)Neither Copper Corporation nor Gold Corporation.
• E)None of the above.

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The process of preparing something, such as a vehicle or a home, for cold winter conditions to prevent damage.

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Television commercials are a form of advertising that involves paying for space to promote a product, service, or cause on television channels.

Reminder

A marketing tool aimed at prompting consumers about a product or service, especially those that are not regularly bought or are seasonal.