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CASH AND ACCRUAL Foundation OF ACCOUNTING CONCEPTSCASH BASISACCRUAL BASISGAAPX?IncomeRecognize the moment obtained regardless of whenearnedRecognized the moment gained despite whenreceivedExpenseRecognized at the time paid in spite of whenincurredRecognized the moment incurred Irrespective ofwhen earnedSalesOnly figure out once payment is receivedC

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