The accrual and the cash bases of accounting were discussed in the textbook. Please (a) define the cash-basis accounting method and state how net income is determined using this method, (b) describe accrual accounting, and (c) indicate which of the two methods (i.e., cash or accrual) is recommended under GAAP.

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The Answer of The accrual and the cash bases of accounting were discussed in the textbook. Please (a) define the cash-basis accounting method and state how net income is determined using this method, (b) describe accrual accounting, and (c) indicate which of the two methods (i.e., cash or accrual) is recommended under GAAP.

The Accrual and the Cash Bases of Accounting Were Discussed