Question: This test is going to be easy, the student commented. All I need to know is accrual-based accounting and cash-based accounting are the same. And

This test is going to be easy, the student commented. All I need to know is accrual-based accounting and cash-based accounting are the same. And as the income statement and cash flow statement the same it be easy

Required: Is the student correct? If not, then describe and explain key differences.

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