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There is another Q wrong, plz answer this. thanks Which of the following businesses must use the accrual method of accounting for federal income tax
There is another Q wrong, plz answer this. thanks
Which of the following businesses must use the accrual method of accounting for federal income tax purposes in 2019? a) Vallario, Valesquez, & Vallance Partnership owned by three individual partners and has average annual gross receipts for the last three years of $27,000,000. b) Victory LP, a partnership owned by two individual partners and one C- Corporation and has average annual gross receipts for the last three years of $27,000,000. c) Ventura Corporation, an S-Corporation owned by two individuals and has average annual gross receipts for the last three years of $27,000,000. d) b and c above must use the accrual method of accounting for federal income tax purposes. e) All of the businesses above must use the accrual method of accounting for federal income tax purposesStep by Step Solution
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