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Which statement is correct? As long as a company consistently uses the cash-basis of accounting, generally accepted accounting principles allow its use. The cash-basis of

Which statement is correct?

As long as a company consistently uses the cash-basis of accounting, generally accepted accounting principles allow its use.

The cash-basis of accounting is objective because no one can be certain of the amount of revenue until the cash is received.

The use of the cash-basis of accounting violates both the revenue recognition and expense recognition principles.

As long as management is ethical, there are no problems with using the cash-basis of accounting.

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