What is the difference between cash basis accounting and accrual basis accounting?
What will be an ideal response
Cash basis accounting records revenues only when cash is received and expenses only when cash is paid. Accrual basis accounting records revenues when earned and expenses when incurred.
Business
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A man purchased a commercial property for $193,600 which was equal to $4.40 per square foot. The lot, which was rectangular, was 200 feet deep. What was the cost per front foot:
A: $440; B: $660; C: $880; D: $986.
Business
The less ________ the demand, the ________ it pays for the seller to raise the price
A) determined; less B) elastic; more C) elastic; less D) constant; more E) fixed; more
Business