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Which of the following statements regarding methods of accounting is true? a . The business may change accounting methods on its tax return anytime. b

Which of the following statements regarding methods of accounting is true?
a. The business may change accounting methods on its tax return anytime.
b. The cash method requires the deduction of expenses when all activities related to the expense have been performed.
c. The accrual method requires income to be recognized when money is received.
d. The business must make an election for its overall method of accounting when filing its first tax return.

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