Briefly explain the difference between the cash basis of accounting and the accrual basis of accounting.Are adjusting entries necessary under both methods?

Name: Briefly explain the difference between the cash basis of accounting and the accrual basis of accounting.Are adjusting entries necessary under both methods?
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The Answer of Briefly explain the difference between the cash basis of accounting and the accrual basis of accounting.Are adjusting entries necessary under both methods?

Briefly Explain the Difference Between the Cash Basis of Accounting