Distinguish between the fundamental aspects of cash-basis accounting and accrual-basis accounting. Of the two (2), suggest the method that is more useful to creditors. Justify your response.
Imagine that you work for an organization that uses the accounting worksheet for internal purposes only. Speculate on the main reasons why management would use the accounting worksheet for internal purposes only. Recommend to management reasons why the worksheet should become a permanent accounting record. Explain the rationale behind your recommendation.