Question: Which statement is correct? A. The income statement and Balance Sheet are accrual based and the statement of cash flows is cash based. B. The

Which statement is correct? A. The income statement and Balance Sheet are accrual based and the statement of cash flows is cash based. B. The income statement, Balance Sheet and statement of cash flows are all accrual based.| C. The Balance Sheet is accrual based and the income and statement of cash flows are cash based. D. None of the statements is correct

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