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What is the Accounting Term to Describe the following type of Accounting Transaction ? Cash...

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Question

Accounting

What is the Accounting Term to Describe the following type of Accounting Transaction ? Cash is exchanged before any Good or Services is Used or Provided.

Group of answer choices

*Deferral

*Cash Basis

*Revenue

*Expense

*Prepaid

*Accrual

*Depreciation

Operating Income Less Other Income and Expenses will Equal ?

Cost of Good Sold

Gross Profit

Retained Earnings

Income Before Income Taxes

Net Income

Answer & Explanation Solved by verified expert
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