Solution-Which the accrual basis of accounting

Which the accrual basis of accounting

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Reference no: EM132728484

Problem 1: The accrual basis of accounting

1) Is generally accepted for external reporting because it gives more useful information

2) Is not acceptable because it gives incomplete information about cash flows

3) Recognizes revenues when received

4) Recognizes expenses when paid

5) Eliminates the need for adjusting entries

Reference no: EM132728484

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Which the accrual basis of accounting

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Reference no: EM132728484

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