Why is it necessary to convert accrual-basis net income to cash-basis net income when preparing a statement

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Why is it necessary to convert accrual-basis net income to cash-basis net income when preparing a statement of cash fl ows? LO11

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Financial Accounting

ISBN: 9781118953907

8th Edition

Authors: Paul D Kimmel, Jerry J Weygandt, Donald E Kieso

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Question Posted: Jul 20, 2024 07:00 AM

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Why is it necessary to convert accrual basis net income to cash basis income when preparing a statement of cash flows?
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Why is the statement of cash fl ows useful? LO11
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Why is it necessary to convert accrual-basis net income to cash-basis net income when preparing a statement

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Financial Accounting

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