As a General Rule, C Corporations Must Use the Cash

question 32

True/False

As a general rule, C corporations must use the cash method of accounting. However, under several exceptions to
this rule (e.g., average annual gross receipts of $25 million or less for the most recent 3-year period), a C corporation can use the accrual method.

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Economic

Pertaining to the production, distribution, and consumption of goods and services, as well as the management of money and resources in a region or country.

Social

Relating to society or its organization, or pertaining to human interactions and relationships.

Environmental

Relating to the natural world and the impact of human activity on its condition, or the surroundings and conditions in which a person, animal, or plant lives or operates.

Task Performance

The effectiveness and efficiency with which an individual completes a specific job-related task or function.