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You have formed a new sole proprietorship and your primarybusiness is buying and selling...

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Accounting

You have formed a new sole proprietorship and your primarybusiness is buying and selling fine art. Your business is notpublicly traded so you can choose to use the cash basis method orthe accrual method for your business. Which would you use andwhy?

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I would have chosen the accrual method of accounting considering the nature of the business we work in Purchase and sale of fine art involve dealing in huge amount as such goods of high value Also wherever the high    See Answer
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In: AccountingYou have formed a new sole proprietorship and your primarybusiness is buying and selling fine...You have formed a new sole proprietorship and your primarybusiness is buying and selling fine art. Your business is notpublicly traded so you can choose to use the cash basis method orthe accrual method for your business. Which would you use andwhy?

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