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CASH AND ACCRUAL BASIS OF ACCOUNTING CONCEPTSCASH BASISACCRUAL BASISGAAPX?IncomeRecognize when obtained regardless of whenearnedRecognized at the time attained regardless of whenreceivedExpenseRecognized as soon as paid no matter whenincurredRecognized at the time incurred No matter ofwhen earnedSalesOnly acknowledge the moment payment is receivedC