Question

1. What is cash basis of accounting?
ans. Order this basis, incomes are not recorded unless they are recorded only when they are paid in cash.
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Answer 1

Answer:

The cash method of accounting, also known as cash-basis accounting, cash receipts and disbursements method of accounting or cash accounting records revenue when cash is received, and expenses when they are paid in cash.

Explanation:

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Answer 2

In cash basis of accounting, only those transactions are recorded in which cash is involved.