Question: Question Five: (10 marks) You are visiting with a friend, Rana, who wants to start a new business. During discussions on forming the business, Jana

Question Five: (10 marks) You are visiting with a friend, Rana, who wants to start a new business. During discussions on forming the business, Jana makes this statement: Our business will have accounts receivable and accounts payable. It will also acquire a substantial number of computers and equipment. Will it be acceptable to use the cash basis of accounting? Required: Explain your response via email with clear justification. Focus

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