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Let’s TalkCash-Based Method of Accounting/ Cash Basis
One of two primary accounting methods, this method reports income when it’s received and expenses when they are paid out.
See Also
Accounting method, accrual basis.
Tips
The other of the two accounting methods is accrual-based accounting, which recognizes income and expenses based on when they are “accrued,” or when they actually occur. Most small businesses use the cash basis, while many medium-sized businesses use the accrual basis method of accounting.
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