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What is the difference between accrual-bases and cash-bases accounting? Comment on why a small business owner prefers cash-bases accounting system. What reasons you will include

What is the difference between accrual-bases and cash-bases accounting? Comment on why a small business owner prefers cash-bases accounting system. What reasons you will include in a letter to the owner with recommendation to adopt the accrual bases of accounting. (Alternative: What would you include in a letter to your senator that federal government should adopt the accrual bases of accounting?).

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The fundamental distinction among accrual and cash premise accounting lies in the circumstance of when income and costs are perceived The cash strategy is a more quick acknowledgment of income and cos... blur-text-image

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