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according to GAAP states that revenues must match expenses in the same accounting method in which they occur .Some small business owners use the cash
according to GAAP states that revenues must match expenses in the same accounting method in which they occur .Some small business owners use the cash accounting method. Under the cash basis- basis method, expenses are paid from cash as they come due. Point out an issues associated with accrual basis accounting as well as issue associated with cash-basis accounting. Compare and contrast the difference.
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