a. Is it correct to say that businesses with inventories must use the accrual method? b. What

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a. Is it correct to say that businesses with inventories must use the accrual method?
b. What other restrictions apply to taxpayers who are choosing an overall tax accounting method?
c. Why is the cash method usually preferred to the accrual method?

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Federal Taxation 2016 Comprehensive

ISBN: 9780134104379

29th Edition

Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson

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Question Posted: Dec 11, 2015 02:21 AM

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a. Is it correct to say that businesses with inventories must use the accrual method? b. What

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a Taxpayers may use the cash method as long as average gross receipts do not exceed 1 million for th...View the full answer

Federal Taxation 2016 Comprehensive

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