ACC 290 Week 3 Assignment Summary Question One

ACC 290 Week 3 Assignment Summary Question One
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 The differences between the two types of accounting begin when the accountant records revenue and expenses. In accrual basis accounting the individuals report income in the fiscal period the transaction take place regardless they received cash, and the accountants deduct expenses in the fiscal period that they incur whether or not they paid for it




Business - Accounting
 Answer the following summary question in 350 to 500 words:



 Commercial accounting and generally accepted accounting principles, generally prescribe the accrual basis of accounting over the cash basis. Describe both bases of accounting and explain the differences.


 Format your paper and presentation consistent with APA guidelines.

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