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2017 Word of the Year

accrual basis

noun
1.
a method of recording income and expenses in which each item is reported as earned or incurred without regard to when actual payments are received or made.
Compare cash basis.
Origin of accrual basis
1930-1935
First recorded in 1930-35
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2017.
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