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Which of the following is true of accrual basis accounting and cash basis accounting? A.Accrual accounting is not allowed under GAAP. B.Cash basis accounting records

Which of the following is true of accrual basis accounting and cash basis accounting?

A.Accrual accounting is not allowed under GAAP.

B.Cash basis accounting records all transactions.

C.Accrual accounting records revenue only when it is earned.

D.All of the above are true.

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