Question

differentiate between cash basis of accounting and accrual basis of accounting on the basis oftiming of recording of an income 2legal position and suitability​

Answer 1

Answer:

The difference between cash and accrual accounting lies in the timing of when sales and purchases are recorded in your accounts. Cash accounting recognizes revenue and expenses only when money changes hands, but accrual accounting recognizes revenue when it's earned, and expenses when they're billed (but not paid).

Explanation:

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