There is no provision for depreciation in cash basis accounting because there is no actual cash involved
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Solution 1
In cash basis accounting, depreciation is not accounted for because it is based on the concept of actual cash transactions. Since depreciation does not involve any actual cash outflow, it is not considered in cash basis accounting. Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem. Knowee AI StudyGPT is a powerful AI-powered study tool desig
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