A person chooses to follow the cash accounting approach in their personal finances. Which of the following transactions best demonstrates this process?
A) buying some clothing on credit - making and recording the monthly payments on the credit card until the full amount is paid off
B) ordering a new magazine subscription and choosing the option for them to bill you later - making and recording the payment when the bill is received in the mail
C) taking your colleagues out to lunch and paying cash - recording the payment
D) All the scenarios demonstrate a cash accounting approach.
E) None of the scenarios demonstrate a cash accounting approach.

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The Answer of A person chooses to follow the cash accounting approach in their personal finances. Which of the following transactions best demonstrates this process?
A) buying some clothing on credit - making and recording the monthly payments on the credit card until the full amount is paid off
B) ordering a new magazine subscription and choosing the option for them to bill you later - making and recording the payment when the bill is received in the mail
C) taking your colleagues out to lunch and paying cash - recording the payment
D) All the scenarios demonstrate a cash accounting approach.
E) None of the scenarios demonstrate a cash accounting approach.

A Person Chooses to Follow the Cash Accounting Approach in Their