New Basement Bathroom

I am Just trying to put in a bathroom down in my new home basement, the room was roughed in for toilet/sink and shower drains, and has a vent tie in to the main system. The toilet drain is sticking up about 2 feet above the floor, How short do I cut the drain before I put the closet flange on? I think the Flange should be just above the finished floor? Also there are some closet flanges with a bevelled edge and some with a straight 90 deg ( on the bottom side) which one to use?
Any help would be appriciated, thanks.

Toilet flanges should be flush on top of the finished floor level and bolted to it, and then the toilet base should be snuggly bolted to the flange, in order for the wax ring to seal properly.
Level the toilet with a level across the toilet bowl, and shim it if necessary with beveled plastic shims made for the purpose. Snug the toilet base down to the flange, but do NOT over-tighten. Just snug enough to not allow any movement. It may crack the porcelain toilet base.
Good Luck!
Mike