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In which year would it have first been required

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Reference no: EM132737541

Question - WFO Corporation has gross receipts according to the following schedule:

Year 1 $ 22.00 million

Year 2 $ 24.00 million

Year 3 $ 26.00 million

Year 4 $ 26.50 million

Year 5 $ 27.00 million

Year 6 $ 28.00 million

If WFO began business as a cash-method corporation in Year 1, in which year would it have first been required to use the accrual method?

A. Year 6

B. Year 4

C. Year 5

D. Year 3

Reference no: EM132737541

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