7. All of the following statements are true except one. Which statement is false?

a. Accrual-basis accounting produces better information than cash-basis accounting.

b. Adjusting entries are required for a business that uses the cash-basis accounting.

c. The matching concept directs accountants to identify and measure all expenses incurred and deduct them from revenues earned during the same period.

d. A fiscal year is not always the same as a calendar year.