Explain the difference between the accrual basis and cash basis of accounting. What are the advantages and disadvantages of each method?
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- What are annuities received? Also, how does the calculation of expected return and the calculation of inclusion amount for annuities received work? Please give me some examples/Explain how to calculate net realizable value.Discuss the differences between cash basis accounting and accrual basis accounting. What are the advantages and disadvantages of each?