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A small and private company may be able to justify using a cash basis of accounting if it has a. sales under $1,000,000 b. no

A small and private company may be able to justify using a cash basis of accounting if it has

a. sales under $1,000,000

b. no accountants on staff

c. insignificant receivables and payables

d. all sales and purchases on account

Explain why.

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