Think about the cash basis versus the accrual basis of, Accounting Basics

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Think about the cash basis versus the accrual basis of

ASSIGNMENT: Think about the cash basis versus the accrual basis of accounting. When are revenues and expenses recognized in each of the methods? What is the importance of the revenue recognition principle and the matching principle related to each method of accounting? Which method satisfies generally accepted accounting principles? List some advantages and disadvantages of each method.

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