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Shira Bareket
on Nov 15, 2024

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Under the cash basis of accounting, expense recognition generally does not follow revenue recognition.

Cash Basis

An accounting method where revenues and expenses are recognized only when cash is actually received or paid out, ignoring receivables and payables.

Expense Recognition

The accounting principle that expenses should be recognized in the period in which they are incurred, regardless of when payment is made.

  • Identify the distinctions between accrual and cash accounting methods.
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SJ
salina jacksonNov 20, 2024
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