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what is the role of accrual-based accounting and valuation, taking into consideration generally accepted accounting principles (GAAP), when formulating the income statement?How does this impact

what is the role of accrual-based accounting and valuation, taking into consideration generally accepted accounting principles (GAAP), when formulating the income statement?How does this impact revenue and expense recognition? What criteria must be satisfied before a revenue c as n be recognized?

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