Cash and accrual accounting
Write the following questions in an essay format:
- Explain the difference between cash and accrual accounting. Please provide an example that is health care related.
- Explain the difference between gross revenue and net revenue. Please provide an example that is health care related.
- Explain the difference between operating income and net income. Please provide an example that is health care related.
- Why is net income called the “bottom line’?