I have a few questions. What is the most fundamental lesson in which the accounting profession is
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I have a few questions. What is the most fundamental lesson in which the accounting profession is built off of? I think its GAAP but Im not 100%.
If an Accounts receivable account is not eventually converted into cash, what happens the amount of money in the account after a pre-determined period of time?
Is it possible to make a lot of sales ,pay minimal expense, and still go bankrupt?
Do most businesses practice Accrual base or cash base Accounting?
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