The cash method of accounting may be used for tax reporting purposes by which of the following

Question:

The cash method of accounting may be used for tax reporting purposes by which of the following taxpayers?
a. A with a C corporation-one with annual revenue exceeding $5 million-as a partner
b. A C with annual revenue of $2.5 million which has physical inventory levels that are material in amount
c. A farming A with a personal service C corporation-one with annual revenue below $5 million-as a partner
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...