Resource: ch. 4 of financial accounting complete exercise be4-1.

 

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Resource: Ch. 4 of Financial Accounting

Complete Exercise BE4-1.

Complete Problems 4-2A & 4-3A. 

Answer the following:

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·  Commercial accounting and generally accepted accounting principles, generally prescribe the accrual basis of accounting over the cash basis.

·  Describe both bases of accounting and explain the differences.

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