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Question 3(b) - 2 marks The Chief Executive Officer of Surelock Homes has asked you...

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Accounting

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Question 3(b) - 2 marks The Chief Executive Officer of Surelock Homes has asked you to explain the differences in the following accounting approaches: (0) In an organisation that is using the cash basis of accounting, when are Expenses recognised? (1 mark) (ii) In an organisation that is using the accrual basis of accounting, when is Revenue recognised? (1 mark)

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