Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. distinguish between cash-basis accounting and accr

Distinguish between cash-basis accounting and accrual-basis accounting. Why is accrual-basis accounting accept-able for most businesses and the...

70.2K

Verified Solution

Question

Accounting

Distinguish between cash-basis accounting and accrual-basisaccounting. Why is accrual-basis accounting accept-able for mostbusinesses and the cash-basis unacceptable in the preparation of anincome statement and a balance sheet?

Answer & Explanation Solved by verified expert
3.8 Ratings (487 Votes)
    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Psychology
1.2K views

Discuss three different events and circumstances related to pregnancy and how they will impact development across...

Physics
1.2K views

The position vector of a particle from origin is given by F A cosat jsinot...

Geometry
1.2K views

State whether the figure has rotational symmetry If so what is the angle of rotation...

Basic Math
1.2K views

Grocery Store Revenue For the 25 years that a grocery store has been open, its...

Statistics
1.2K views

1 Points DETAILS PECKSTAT3 12 2 032 MI S USE SALT MY NOTES A manufacturer...

Calculus
1.2K views

Find the intercept s of the following equation y 2x 8 Select the correct choice...

Algebra
1.2K views

At time t 0 a particle is located at the point 4 1 3 It...

Accounting
1.2K views

Paevey enterprises purchased anything personal asset for $22,000 on April 1 year 1. The acid...

Accounting
1.2K views

Accounting True and False Questions As long as the action is within the scope of...

Accounting
1.2K views

What is the performance ratio of 7-Eleven Malaysia Holding Berhad and MyNews Holding Berhad in...

Accounting
1.2K views

Consider the following costs: Direct Materials $10,000 Depreciation on Factory Equipment 15,000 Factory Janitor's Salary...

Accounting
1.2K views

Interest expense on bonds issued at a discount or premium is calculated as the: Multiple...