Question
WFO Corporation has gross receipts according to the following schedule: Year 1 $22.70 million Year 2 $25.70 million Year 3 $26.70 million Year 4 $25.20
WFO Corporation has gross receipts according to the following schedule:
| Year 1 | $22.70 million |
| Year 2 | $25.70 million |
| Year 3 | $26.70 million |
| Year 4 | $25.20 million |
| Year 5 | $25.70 million |
| Year 6 | $27.70 million |
If WFO began business as a cash-method corporation in Year 1, in which year would it have first been required to use the accrual method?
-
Year 3.
-
Year 6.
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Year 5.
-
Year 4.
-
None of the choices are correct.
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College Algebra With Modeling And Visualization
Authors: Gary Rockswold
6th Edition
0134418042, 978-0134418049
