what is the difference between cash basis accounting and accrual basis acounting
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cash basis : it involves recording the transactions only when the cash is received.this type of accounting is followed by doctors ,lawyers and professionals.
accrual basis: it involves recording transactions when cash is received and not received also.this type of accounting is followed by business firms
accrual basis: it involves recording transactions when cash is received and not received also.this type of accounting is followed by business firms
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