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Which of the following is true about accrual-basis accounting? Accrual-basis accounting is not required by GAAP. Accrual-basis accounting and cash-basis accounting always produce the same
Which of the following is true about accrual-basis accounting?
- Accrual-basis accounting is not required by GAAP.
- Accrual-basis accounting and cash-basis accounting always produce the same results.
- Income is generally larger with accrual-basis accounting.
- Accrual-basis accounting provides a better measure of performance.
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