MAT200 Sect1 Principles of Accounting: Module 3 Discussion

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Discussion Question:
Jay Simons is opening his own business, and he is trying to decide whether to use accrual or cash basis accounting. Jay does not have a good understanding of how to read financial statements. Is it a good idea or not for Jay to use the accrual method? Why is the revenue recognition principle important?

DQ1 UMBO – 4
DQ1 PLG – 1, 2, 3
DQ1 CLO – 1, 2, 3, 6, 8, 9

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