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    Business
  3. Study Set
    Financial Accounting
  4. Exam
    Exam 2: Financial Statements: a Window on an Entity
  5. Question
    Why Is the Cash Basis of Accounting Not Used When
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Why Is the Cash Basis of Accounting Not Used When

Question 21

Question 21

Essay

Why is the cash basis of accounting not used when preparing general purpose financial statements? What is used instead?

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The cash basis of accounting is limiting...

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