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QUESTION 12 Which of the following statements concerning accrual accounting is correct? A. B. Income is recognised at the receipt of cash Compared to cash

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QUESTION 12 Which of the following statements concerning accrual accounting is correct? A. B. Income is recognised at the receipt of cash Compared to cash accounting, accrual accounting is less accurate in reflecting an entity's economic performance Profit is the excess of income earned over expenses incurred during the financial period Compared to cash accounting, accrual accounting is less suitable for large businesses with few cash transactions C. D

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