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Equities : Markets and Instruments - Cash basis

what does "cash basis" mean?

anyone? it's referred to in the EOC questions...

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It means when financial statements are prepared using cash as the basis (revenues and expenses are recognized when cash is actually received and paid out). It is an accounting method as opposed to the accrual method of accounting.

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that it is settled within couple of days (usually 3 days) vs. forward markets

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