a. Briefly explain the advantages of accrual accounting compared to cash-basis accounting b. State the accounting definition of liability and expense', and provide an example for each c. Briefly explain the purpose of the Statement of Cash Flows. d. Briefly explain the benefit of the allowance method compared to the direct write-off method for accounting for receivables. e. For each of the four enhancing qualitative characteristics of financial information provided in the conceptual framework (comparability, understandability, timeliness, verifiability). briefly explain what each characteristic means and why it is a desirable characteristic for financial information to possess