Which of the Following Businesses Can Use the Cash Method

question 92

Multiple Choice

Which of the following businesses can use the cash method?
I.The Hateris Group,a partnership with 3 equal partners,of which one is The Hillard Corporation.Average revenues for the Hateris Group,a financial planning firm,over the last three years are $4,000,000.
II.The Glidder Corporation,a clothing retailer that has average annual sales over the last three years are $2,100,000.
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• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Both statements are correct.
• D)Neither statement is correct.

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Definitions:

Active Exocytosis

Active exocytosis is a cellular process where substances are expelled from a cell, requiring energy for vesicles to fuse with the plasma membrane.

Chromatid

Each of the two strands of a replicated chromosome, which are joined at the centromere before cell division.

Centromere

The area on a chromosome where spindle microtubules connect through the kinetochore during the process of cell division.

Chromatin

The complex of DNA and protein found in the nucleus of eukaryotic cells, playing a role in gene regulation and expression.