Why can managers sometimes choose among alternative ways of accounting for transactions and economic events when accrual

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Why can managers sometimes choose among alternative ways of accounting for transactions and economic events when accrual accounting is used? What are the implications of these choices on the financial statements and to the users of financial statements?

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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