Accryalincome versus cash flow for a period thomas book sales Inc supplies textbooks to gollege and university bookstors the books are shipped with a proviso that they must be paid for within 30 days but can be returned for a full refund credit within 90 days in 2014thoms shipped and billed book title totaling $760,000 collections net of return credits during the year totaled $690000the company spent $ 300,000 acquiring the books that it shipped .
a- using accrual accounting and the preceding values show the firm nt profit for the past year.
b- using cash accounting and the preceding values show the firm net cash flow for the past year.
c- which of these statement is more useful to the financial manager? why?