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MBAWhich of the following are NOT parts of a businesss set of financial statements?Income statementBalance sheetStatement of cash flowsStatement of changes in equityStatement of reconciliationWhich of the following statements about cash versus accrual accounting is most correct?In cash accounting, an event is recognized when a cash transaction occurs.In accrual accounting, an event is recognized when a cash transaction occurs.Most large healthcare organizations use cash accounting because it presents a better picture of the economic status of the organization.Most small healthcare organizations use accrual accounting because it closely matches statements required for income tax purposes.In cash accounting, an event is recognized when the obligation for a cash transaction is created.Which o...
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