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Which of the following statements about the accrual method of accounting is false? ...

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Accounting

Which of the following statements about the accrual method of accounting is false?
Multiple Choice
The accrual method is the required method of accounting under GAAP.
Every publicly held corporation must use the accrual method of accounting to prepare financial statements.
The accrual method of accounting under GAAP and the accrual method of accounting for computing taxable income are identical.
Corporations with more than $29 million average annual gross receipts are required to use the accrual method to compute taxable income.

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