Which of the following must use the accrual method of accounting?

I. An incorporated property management company with average annual gross receipts of $15 million. II. An incorporated law firm with average annual gross receipts of $40 million. III. A C corporation with gross receipts of $50 million whose sole business consists of manufacturing and selling industrial tools and machinery.

Question options:

	All of the above must use the accrual method.
	Only II must use the accrual method.
	Only III must use the accrual method.