Explain the Differences Between Cash-Basis and Accrual Accounting

question 113

Essay

Explain the differences between cash-basis and accrual accounting.

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Definitions:

Treaty of Paris 1783

The agreement that ended the Revolutionary War, recognizing American independence from Britain and establishing the borders of the new nation.

Loyalists

Individuals, especially during the American Revolutionary War, who remained loyal to the British Crown and opposed the independence movement.

Western Hemisphere

The half of Earth that lies west of the Prime Meridian and east of the Antimeridian, including the Americas.

Treaty of Paris

The agreement signed in 1783 that ended the American Revolutionary War, recognizing the independence of the United States.