Accrual basis net income differ from cash basis net income

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Reference no: EM131343403

1. How does accrual-basis net income differ from cash-basis net income?

2. Explain when revenue may be recognized in the accounting records.

3. What happens during the accounting cycle?

4. Provide two examples of transactions that begin and end at a particular point-intime and two examples of continuous transactions.

Reference no: EM131343403

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