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Reflect on differences between cash basis and accrual basis

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Reference no: EM132665419 , Length: Word count: 200

Question 1: If you were to open a small business with the knowledge and skills you have acquired to this point, would you prefer to keep your accounting records on a cash basis or an accrual basis? Reflect on the differences between cash basis and accrual basis accounting, and explain why you selected one option over the other.

Your journal entry must be at least 200 words in length. No references or citations are necessary.

Reference no: EM132665419

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