Which of the following entities may not use the cash method of accounting?
A) A partnership with average annual gross receipts in excess of $5 million.
B) A C corporation whose average annual gross receipts for the preceding 3 taxable years do not exceed $5 million.
C) A C corporation that is substantially owned by its employees and whose business is selling goods with annual gross receipts in excess of $5 million for all tax years since its inception.
D) An S corporation.
Explain your answer