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Which of the following is FALSE about a business that uses a hybrid accounting method? If an inventory is necessary to account for income of
Which of the following is FALSE about a business that uses a hybrid accounting method?
If an inventory is necessary to account for income of the business, it generally must use the accrual method for purchases and sales.
If an inventory is necessary to account for income of the business, it generally must use the cash method for purchases and sales.
If it uses the cash method to report income, it must also use the cash method to report expenses.
If it uses the accrual method to report expenses, it must use the accrual method to report income.
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