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How does the recognition of revenue on account

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Reference no: EM13536104

1. How does the recognition of revenue on account (accounts receivable) affect the income statement compared to its effect on the statement of cash flows?

2. Give an example of an asset source transaction. What is the effect of this transaction on the accounting equation?

3. When is revenue recognized under accrual accounting?

4. Give an example of an asset exchange transaction. What is the effect of this transaction on the accounting equation?

Reference no: EM13536104

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