Which one of these statements about the accrual basis of accounting is false?

(a) Events that change a company's financial statements are recorded in the periods in which the events occur.

(b) Revenue is recognized in the period in which it is earned.

(c) This basis is in accord with generally ac- cepted accounting principles.

(d) Revenue is recorded only when cash is re- ceived, and expense is recorded only when cash is paid.

AppendixLO1