Question: which of the following circumstances would result in a decrease in net income under both cash basis and accrual basis accounting? a. the payment of

which of the following circumstances would result in a decrease in net income under both cash basis and accrual basis accounting?

a. the payment of the next month's rent in advance

b. the payment of the current month's utility expense

c. the purchase of inventory using cash

d. the use of prepaid insurance

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