Cash basis

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Cash basis (hereinafter, the Basis) is an accounting system that records revenue when cash is received and expenses when paid. This system does not match revenues and expenses like in the accrual basis of accounting.


Definitions

According to College Accounting: A Practical Approach by Slater (13th edition)‎,

Cash basis. An accounting system that records revenue when cash is received and expenses when paid. This system does not match revenues and expenses like in the accrual basis of accounting.

Related concepts

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