ORT ANSWER. Write the word or phrase that best completes each statement or answers the quesho. 50) 50) For each of the following statements, indicate whether it applies to: the cash basis of accounting (cash basis) the accrual basis of accounting (accrual basis) both the cash and accrual basis of accounting (both) neither the cash nor the accrual basis of accounting (neither). Your response should be cash basis, accrual basis, both, or neither. Statement An easier method of accounting to follow Provides a better picture of a business's revenues and expenses Applies to Small businesses may use this method