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What does accrual accounting attempt to accomplish and

1. What does accrual accounting attempt to accomplish?

2. Define recognition. How is it independent of collecting or paying cash?

3. What does the term deferral mean?

4. If cash is collected in advance of performing services, when is the associated revenue recognized?

5. What does the term asset source transaction mean?

6. What effect does the issue of common stock have on the accounting equation?

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Cost Accounting: What does accrual accounting attempt to accomplish and

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