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25 June, 22:33

Under what circumstances may a cash-method business be allowed to use the cash method to account for gross profit?

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  1. 26 June, 01:23
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    The business's primary source of revenue must be the selling of services. The business might also sell or lease goods, but the revenue generated must be smaller than the revenue generated by selling services.

    Another condition that must be met, is that the business's total revenue must be less than $10 million per year during the prior 3 years.
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