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1)    What is the difference between "Accrual" Accounting and "Cash" basis accounting? 2)    What is the...

1)    What is the difference between "Accrual" Accounting and "Cash" basis accounting?

2)    What is the Accounting "Principle" that supports "Accrual" Accounting?

3)    Does the cash basis of accounting reflect future liabilities?

4)    Which method provides more consistent information?

5)    Which method is considered to be part of "GAAP"?

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