Describe and discuss the basic characteristics of the cash basis and the accrual basis of accounting.

1. Describe and discuss the basic characteristics of the cash basis and the accrual basis of accounting. (only 150 words)
All assignment(s) derive from the OER Textbook. For academic purposes, at least 1 APA formatted reference is required pertaining to the topic(s).

2. Why are adjusting entries necessary? Why not treat every cash disbursement as an expense and every cash receipt as a revenue when the cash changes hands? (1 page)
Exercises must be the students original thoughts based on the topics from the “Open Educational Resource” (OER) Course Textbook and/or other referenced sources. Direct quotes from references must be less than 20 words. Please review for sentence structure, grammar and punctuation errors. Plagiarized submissions may result in a “0” for the submission.
All assignment(s) derive from the OER Textbook. For academic purposes, at least 1 APA formatted reference is required pertaining to the topic(s).

OER Textbook: http://solr.bccampus.ca:8001/bcc/file/fa667d22-26c7-487e-8d75-0e57ef8eece7/1/Accounting%20Principles%20A%20Business%20Perspective.pdf (Chapter 3)

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