Which of the Following Businesses Must Use the Accrual Method

question 77

Multiple Choice

Which of the following businesses must use the accrual method of accounting?
I.Champion Mortgage Corporation, which has annual gross receipts of $30,000,000.
II.The Happy Bookworm, a chain of bookstores with annual gross receipts of $39,500,000.
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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:

Colorblind Racism

Colorblind racism is a form of racism that asserts racial equality while ignoring the historical and contemporary inequalities and structural racism that persist in society.

White Privilege

The ability for Whites to maintain an elevated status in society that masks racial inequality.

Institutional Racism

Racism involving notions of racial or ethnic inferiority that have become ingrained into society’s institutions.

Institutional Racism

Institutional racism refers to the ways in which racism is embedded within the policies, laws, and practices of social institutions, leading to discrimination and disparities for certain racial groups.