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What are the differences between Cash and Accrual?

cash and accrual

The differences between cash and accrual accounting lie in the timing of when sales and purchase records in our accounts.

And cash accounting recognizes revenue and expenses only when money changes hands.

But accrual accounting recognizes revenue when earned and expenses when they billed but not paid.

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What is the basis of Cash Accounting?

What is the basis of Accrual Accounting?

What does it mean to Record Transactions?

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