explain how accrual accounting differs

explain how accrual accounting differs from cash basis accounting if a pre paid insurance beginning $400. payments for insurance during the period $1200 prepaid insurance ending $700

explain the differences in variable costs fixed costs

Let’s roll with this discussion question…please explain the differences in variable costs fixed costs and mixed costs. Why do we need to categorize costs into these categories? Which costs adjust based on production and why?Please include references.