Question: FTL - 1 6 . Which statement is true about the accrual method of business accounting? The accrual method can only be used by state

FTL-16. Which statement is true about the accrual method of business accounting?
The accrual method can only be used by state-licensed professionals such as CPAs and attorneys
Taxpayers cannot use Section 179 depreciation when using the accrual method of accounting
Taxpayers report all income when they receive it regardless of when it was invoiced
Taxpayers include all open invoices in their total income even though they may not have received the income yet

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