Question: ] Describe two specific accounting methods that are treated as initiated by the taxpayer without any need for consent of the IRS when the business

] Describe two specific accounting methods that are treated as initiated by the taxpayer without any need for consent of the IRS when the business qualifies under the gross receipts test. Two accounting methods initiated without IRS consent under the gross receipts test are the Cash Method (recording income when received, expenses when paid) and a Hybrid Method (mixing cash and accrual methods for different aspects of financial reporting)

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