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Discuss Advantages and Disadvantages of Using the Cash Basis to Recognize

question 87

Essay

Discuss advantages and disadvantages of using the cash basis to recognize revenues. Provide three valid reasons in your discussion.


Definitions:

Parsimony

The principle or idea of simplicity, especially in scientific explanations, by preferring the least complicated explanation.

Scope

The extent of the area or subject matter that something deals with or to which it is relevant.

Range

The difference between the highest and lowest values in a data set, or the extent of variability.

Depth

The complexity or thoroughness involved in the examination or analysis of a subject, object, or concept.

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