Accounting profits and cash flows are generally: a.) the same since they reflect current laws and accounting
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Question:
Accounting profits and cash flows are generally:
a.) the same since they reflect current laws and accounting standards.
b.) the same due to the requirements of GAAP.
c.) different because of GAAP rules regarding the recognition of income.
d.) different because cash inflows must occur before revenue recognition.
e.) the same since accounting profits reflect when cash flows occur.
Related Book For
Financial Reporting Financial Statement Analysis and Valuation a strategic perspective
ISBN: 978-1337614689
9th edition
Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
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