The Accrual Method Generally Is Required for the Following Types

question 4

Multiple Choice

The accrual method generally is required for the following types of businesses:

• A)A real estate management company, operating as an S corporation, with over $10 million of gross receipts.
• B)An incorporated public accounting firm with gross receipts in excess of $5 million.
• C)A partnership that has a partner that is an S corporation.
• D)A grocery store with average annual gross receipts of $800,000.
• E)None of the above.

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Definitions:

National Consumers League

An American consumer organization founded in 1899, dedicated to promoting economic and social justice for consumers and workers in the United States.

Susan B. Anthony

Susan B. Anthony was a prominent American civil rights leader who played a pivotal role in the women's suffrage movement to secure women's voting rights.

Florence Kelley

A social and political reformer known for her work against sweatshops and for child labor laws in the United States.