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5. Which one of the following statements describes accounting methods? A. Almost all individuals use the cash method of accounting. B. If an individual uses

5.Which one of the following statements describes accounting methods?

A. Almost all individuals use the cash method of accounting.
B. If an individual uses the cash method of accounting for wages and interest, that individual cannot use accrual accounting for a proprietorship reported on Schedule C.
C. An individual who uses the cash method of accounting only reports amounts actually received.

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