QUESTION 10 Under the accrual basis of accounting: a. cash must be received before revenue...
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QUESTION Under the accrual basis of accounting: a cash must be received before revenue is recognised. b profit is calculated by matching cash outflows against cash inflows. c events that change an entitys financial statements are recognised in the period they occur rather than in the period in which cash is paid or received. d the ledger accounts must be adjusted to reflect a cash basis of accounting before financial statements are prepared.
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