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The regulators do not permit a business organized as a C-corporation (in the United States) to use cash basis accounting. Instead, these companies must use accrual...
Fixed assets are those assets that are used in a productive capacity, are tangible (have physical substance), are relatively long-lived, and provide future benefit that is...
Your business sells products both at retail to consumers and to other businesses. You extend short-term credit to your business customers. Over the years, you have...
Accounting records are kept on the accrual basis, except in the case of very small businesses. To accrue means to collect or accumulate. This means that...