14. What is the benefit of selecting an accounting period in agreement with the natural business year? a. Inventories are at their lowest point and may be inspected and tabulated more quickly and valued more accurately b. Receivables are at their minimum and bad debt adjustments can be determined more accurately c. Financial statements prepared at the end of a natural business year more accurately reflect the results of activities over one complete cycle of operations d. a and b only e. a, b and care all benefits of selecting a natural business year 15. The following statements about the cash basis method of accounting are false, except: a. The exchange of services may lead to gross income to both parties. b. Interest credited to a savings account is not taxed until withdrawn. c. Stock received for services rendered are taxed only in the year sold. d. Prepaid rent for a 3-year lease may be deducted currently