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QUESTION 2 Which of the following, if any, are examples of accrual accounting ( and / or the matching principle ) ? I ) When
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Which of the following, if any, are examples of accrual accounting andor the matching principle I When the transaction is recorded, cash may or may not have changed hands. II The firm may pay cash for a new factory at time zero but the cost only hits the income statement a piece at a time.
Only I is true.
Only II is true
Both I and II are true.
Neither I nor II are true
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