1. Explain why accrual-basis accounting is more appropriate than cash-basis accounting for most
businesses.
2. Why are accrual-based financial statements considered somewhat tentative?
3. Why are adjusting entries necessary?
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1. Explain why accrual-basis accounting is more appropriate than cash-basis accounting for most
businesses.
2. Why are accrual-based financial statements considered somewhat tentative?
3. Why are adjusting entries necessary?