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Write a 700- to 1,050-word paper in APA format comparing and contrasting the different types of accounting, namely accrual, cash flow, and fund accounting. Be sure to consider the following:
1.) How are entries made under each type of accounting?
2.) How does each type of accounting handle depreciation, if at all?
3.) How is inventory accounted for?
4.) Are there any differences between the organizations that adopt a particular accounting method?
What are the strengths and weaknesses of the various types of accounting?
Cite at least two sources other than your text.
Post your paper as a Microsoft® Word attachment.
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Molly and Dolly form MD Corporation. Molly transfers a building with a fair market value of $800,000 and a basis of $400,000 that is encumbered by a $100,000 mortgage that the corporation assumes in exchange for 50 percent of MD's stock.
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