Multiple Choice
Abdo Corporation wants to determine if it can qualify to use the cash method under the $26 million gross receipts test for 2019.Its gross receipts were $27 million for 2019, $24 million for 2018, $23 million for 2017, and $22 million for 2016.What amount of gross receipts is relevant for determining if Abdo can use the cash method for 2019?
A) $23 million
B) $23.5 million
C) $23.75 million
D) $24 million
Correct Answer:
Verified
Correct Answer:
Verified
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