Which accounting method must each of the following taxpayers use?
a. Fax, Inc., is an S corporation wholly owned by Helena. She uses a calendar year to report her income.
b. Assume the same facts as in part a, except that Fax, Inc., is a corporation. Its annual revenues have never exceeded $1,000,000.
c. Assume the same facts as in part b, except that Fax’s annual revenues usually are between $7,000,000 and $8,000,000.
d. Spoke and Pedal Cyclery is organized as a partnership. It is owned by John and Gloria as equal partners.