Generally accepted accounting principles require the use of accrual accounting.

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This statement is true. Generally accepted accounting principles (GAAP) mandate the use of accrual accounting, which recognizes revenue and expenses when they are earned or incurred, regardless of whether or not cash has been exchanged. Accrual accounting provides a more accurate picture of a company's financial performance and position over time.

Generally Accepted Accounting Principles Require the Use of Accrual Accounting