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Cash Basis
An accounting method where revenues and expenses are recognized when cash is received or paid, not when they are incurred.
Accounts Receivable
Receivables from clients for goods delivered or services performed by a company, which have not yet been paid for.
Income Statement
A financial statement that shows a company's revenues, expenses, and profits over a specific period.
Cash Basis
An accounting method where revenues and expenses are recorded when cash is received or paid, not when they are incurred.
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