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What is the purpose of the accrual basis of accounting? A ) To record transactions only when cash is received or paid out B )
What is the purpose of the accrual basis of accounting?
A To record transactions only when cash is received or paid out
B To recognize revenue and expenses when they are earned or incurred, regardless of when cash is received or paid
C To calculate the net income by deducting expenses from revenue
D To maintain a cash flow statement for financial analysis
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