Of the following statements concerning the tax treatment of interest income, which one is NOT correct?

	If there is accrued interest on a security, the seller includes the accrued interest in income and the purchaser deducts a corresponding amount from the interest received on the bond
	Corporations must accrue interest on a daily basis.
	Accrued interest from the date of the last interest payment date will be added to the purchase price of a security.
	Individuals must accrue interest using the cash basis.