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24 December, 03:12

Under the cash basis of accounting, no adjustments are made for prepaid, unearned, and accrued items. true

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  1. 24 December, 03:44
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    That statement is true

    Under a cash basis, we only acknowledge a transaction only after cash exchange.

    Under prepaid, unearned, and accrued items, we already receive the assets, but we till haven't made the cash exchange, so no adjustment is needed.
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