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Imagine that you opened a restaurant in your hometown and you decided to take the knowledge and skills you learned in this class and be your own...
Imagine that you opened a restaurant in your hometown and you decided to take the knowledge and skills you learned in this class and be your own accountant. Discuss whether you would prefer to keep your accounting records on the cash basis or the accrual basis. As part of the discussion, explain how and why you selected one basis over the other.