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For each of the following statements, indicate whether it applies to: the cash basis of accounting (cash basis) the accrual basis of accounting (accrual basis) both the cash and accrual basis of accounting (both) neither the cash nor the accrual basis of accounting (neither). Your response should be cash basis, accrual basis, both, or neither. Statement: An easier method of accounting to follow

Respuesta :

Both cash accounting and accrual accounting are easier accounting methods.

What is accounting?

The process of documenting, organizing, measuring, analyzing, communicating, and comprehending financial information is known as accounting.

Cash accounting records income as it is received and expenses as they are incurred. Accrual accounting is used to record both when income is made and when expenses are incurred.

Therefore, cash accounting and accrual accounting are easier method of accounting to follow statement.

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