“Choosing the Best Accounting Method for a Small Business: Cash Basis vs Accrual Basis” “Making the Right Choice: Evaluating Cash Basis and Accrual Basis Accounting for Small Businesses”

If you were to open a small business with the knowledge and skills you have acquired to this point, would you prefer to keep your accounting records on the cash basis or the accrual basis? Reflect on the differences between cash basis and accrual basis accounting, and explain why you selected one option over the other.