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Distinguish between cash-basis accounting and accrual basis accounting. Why is accrual-basis accounting acceptable for most business enterprises and the cash basis unacceptable in the preparation

Distinguish between cash-basis accounting and accrual basis accounting. Why is accrual-basis accounting acceptable for most business enterprises and the cash basis

unacceptable in the preparation of an income statement and a balance sheet? 200 - 300 words needed (please not more or less)

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