The assumption that the effects of transactions and other events are recognized when they occur, not when
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The assumption that the effects of transactions and other events are recognized when they occur, not when the cash flows occur, is called:
A. relevance.
B. accrual basis.
C. going concern.
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The correct answer is B Accrual basis In accounting the accrual basis is an approach where transacti...View the full answer
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Related Book For 
International Financial Statement Analysis CFA Institute Investment Series
ISBN: 9780470287668
1st Edition
Authors: Thomas R. Robinson, Hennie Van Greuning CFA, Elaine Henry, Michael A. Broihahn, Sir David Tweedie
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