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Summarize, using moral reasoning, cash or accrual basis accounting systems in relation to the selected business entity. Consider how the accounting system impacts revenue recognition,
Summarize, using moral reasoning, cash or accrual basis accounting systems in relation to the selected business entity. Consider how the accounting system impacts revenue recognition, consistent with Internal Revenue Code and Treasury regulations.
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1- Differentiate between accrual accounting and cash basis.
2-Based on the type of business and the clients accounting system, what is the impact when revenue is recognized?
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