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Discuss whether to keep the accounting records on cash basis

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Reference no: EM132463908

Imagine someone opening a restaurant in their hometown and they decided to take the knowledge and skills they learned in this class and be their own accountant.

Question 1: Discuss whether to keep the accounting records on the cash basis or the accrual basis. As part of the discussion, explain how and why it was selected one basis over the other.

Reference no: EM132463908

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