Please answer these questions using discussion method. Reply with your answers. 01. What is the difference between the cash basis and the accrual basis of accounting? 02. Why is the accrual basis of accounting generally preferred over the cash basis? 03. What is the term used to describe an expense that has not been paid and has not yet been recognized in the accounts by a routine entry? 04. What are adjusting entries? 05. What is the difference between an accrual and a deferral