Which of the Following Businesses Can Use the Cash Method

question 76

Multiple Choice

Which of the following businesses can use the cash method?
I.The Donner Group,a partnership with 3 equal partners,of which one is The Garden Corporation.Average revenues for the Donner Group,a consulting firm,over the last three years are $4,000,000.
II.The Mongoose Corporation,a computer software consultant that has average annual fees from services 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:

Framing

The way information is presented to audiences, which can influence their perception and decisions.

Serious Side Effect

An unintended, negative reaction to a medication or therapy that can sometimes be severe or life-threatening.

Medication

Substances used in the diagnosis, treatment, or prevention of disease and as part of medical care to alleviate symptoms and improve health.

Risk

Risk involves exposure to the chance of injury or loss, a measure often assessed in decision-making processes.