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Early memories are easily disrupted by
Accrual-Basis
An accounting method that records income and expenses when they are earned or incurred, regardless of when the cash is actually received or paid.
Cash-Basis
An accounting method where revenues and expenses are recorded when they are actually received or paid, not when they are incurred.
Income Statement
A financial statement that shows a company's revenues, expenses, and net income over a specific period of time.
Prepaid Insurance
An asset on the balance sheet that represents insurance paid in advance, which will be expensed over the time period it covers.
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