{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-13T16:24:40-04:00", "answer_date": "2024-06-13 16:24:40", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "2972314", "url": "\/study-help\/questions\/1-what-is-the-difference-between-the-cash-basis-and-2972314", "question_creation_date_js": "2024-06-13T16:24:40-04:00", "question_creation_date": "Jun 13, 2024 04:24 PM", "meta_title": "[Solved] (1) What is the difference between the ca | SolutionInn", "meta_description": "Answer of - (1) What is the difference between the cash basis and the accrual basis of accounting? (2) Why is the accrual basis of | SolutionInn", "meta_keywords": "1,difference,cash,basis,accrual,accounting,2,preferred,3,contra,account,recording", "question_title_h1": "(1) What is the difference between the cash basis and the accrual basis of accounting? (2) Why is the accrual basis of accounting preferred over", "question_title": "(1) What is the difference between the cash basis and the accrual", "question_title_for_js_snippet": "(1) What is the difference between the cash basis and the accrual basis of accounting (2) Why is the accrual basis of accounting preferred over the cash basis (3) What contra account is used when recording and reporting the effects of depreciation Why is it used ", "question_description": "

(1)<\/strong> What is the difference between the cash basis and the accrual basis of accounting?<\/p>

(2)<\/strong>Why is the accrual basis of accounting preferred over the cash basis?<\/p>

(3)<\/strong>What contra account is used when recording and reporting the effects of depreciation? Why is it used?<\/p>", "transcribed_text": "", "related_book": { "title": "Fundamentals of Cost Accounting", "isbn": "9780078025525, 9780077517359, 77517350, 978-0077398194", "edition": "3rd Edition", "authors": "William Lanen, Shannon Anderson, Michael Maher", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/108.jpg", "uri": "\/textbooks\/fundamentals-of-cost-accounting-3rd-edition-108", "see_more_uri": "" }, "free_related_book": { "isbn": "0070607680", "uri": "\/textbooks\/oracle-database-10g-ocp-certification-all-in-one-exams-1z0-042-and-1z0-043-prepare-for-the-oca-and-ocp-exams-with-help-from-the-experts-1st-edition-978-0070607682-169723", "name": "Oracle Database 10g Ocp Certification All In One Exams #1z0 042 And #1z0 043 Prepare For The Oca And Ocp Exams With Help From The Experts", "edition": "1st Edition" }, "question_posted": "2024-06-13 16:24:40", "see_more_questions_link": "\/study-help\/questions\/business-general-management-2023-February-20", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/what-are-the-components-of-planning-a-convention", "description": "What are the components of planning a convention?", "stars": 3.5 }, { "url": "\/study-help\/labor-and-employment-law\/5-summit-bancorp-maintained-a-definedbenefit-pension-plan-for-salaried-1788583", "description": "5. Summit Bancorp maintained a defined-benefit pension plan for salaried employees only. John Bauer, employed as a sales representative by Summit for some eighteen years on an hourly basis, sued at...", "stars": 3.5 }, { "url": "\/study-help\/psychology\/am-i-buying-this-in-an-attempt-to-satisfy-a-1982542", "description": "Am I buying this in an attempt to satisfy a psychological need?", "stars": 3.5 }, { "url": "\/considering-the-stress-concentration-at-point", "description": "Considering the stress concentration at point A in the figure, determine the maximum normal and shear stresses at A if F = 200 lbf. .y 2 in 0 12 in I-in dia. g-in R. 2 in 1-in dia. 15 in 1-in dia.", "stars": 3 }, { "url": "\/study-help\/questions\/what-is-the-name-that-developers-typically-give-to-the-9742148", "description": "What is the name that developers typically give to the homepage?", "stars": 3 }, { "url": "\/study-help\/questions\/leno-company-sells-goods-to-the-fallon-company-for-12000-8812196", "description": "Leno Company sells goods to the Fallon Company for $12,000. It offers credit terms of 5\/10. n\/30. If Fallon Company pays the invoice within the discount period. Leno Company will record a debit to...", "stars": 3 }, { "url": "\/study-help\/questions\/leonardo-who-is-married-but-files-separately-earns-80000-of-5442673", "description": "Leonardo, who is married but files separately, earns $80,000 of taxable income. He also has $15,000 in city of Tulsa bonds. His wife, Theresa, earns $50,000 of taxable income. If Leonardo and his...", "stars": 3 }, { "url": "\/study-help\/questions\/question-4-prepare-financial-statements-driftwood-investments-provides-financial-7000981", "description": "Question 4 - Prepare financial statements Driftwood Investments provides financial services related to investment selections, retirement planning, and general insurance needs. At the end of the year...", "stars": 3 }, { "url": "\/study-help\/questions\/below-are-the-transactions-for-button-sewing-shop-for-march-1646661", "description": "Below are the transactions for Button Sewing Shop for March, the first month of operations. March 1 Issue common stock in exchange for cash of $2,600. March 3 March 5 March 7 Purchase sewing...", "stars": 3 }, { "url": "\/study-help\/questions\/what-idea-justifies-employers-being-conscious-of-employees-working-too-5134249", "description": "What idea justifies employers being conscious of employees working too many long hours? a.) Employees working long hours can be counterproductive to a firm. b.) Constant disengagement by employees...", "stars": 3 }, { "url": "\/study-help\/questions\/cc131-evaluating-profitability-liquidity-and-solvency-lo4-l05-looking-back-5216824", "description": "CC13-1 Evaluating Profitability, Liquidity, and Solvency [LO4, L05) Looking back over the past few years, it is clear that Nicole Mackisey has accomplished a lot running her business, Nicole's...", "stars": 3 }, { "url": "\/study-help\/questions\/make-this-conclusion-shorter-the-relationship-between-financial-markets-and-4630695", "description": "make this conclusion shorter: The relationship between financial markets and economic growth is well-established, with higher financial development correlating with increased economic growth. Both...", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/1-what-effects-do-morality-laws-often-have-2-do-2972313", "next": "\/study-help\/questions\/according-to-fred-the-consumer-price-index-in-january-1979-2972315" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Economics", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-economics" }, { "name": "(1) What is the difference between the cash basis and the accrual", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/1-what-is-the-difference-between-the-cash-basis-and-2972314" } ], "skill_details": { "skill_id": "12", "skill_name": "Economics", "parent_id": "1" } } } }