1. The objective of the accrual basis accounting is to

Report expected future accomplishments and link them to expected efforts.

Match cash inflows of the period with their associated cash outflows.

Include revenue in the income statement of the period when control of the goods and services produced passes to the customer (regardless of when cash is received) and match costs incurred (expenses) against the revenue (regardless of when paid).

Provide information for investors to assess current period cash flows.

2. Which of the following is (are) important to users of financial statements in assessing the future cash flows of a firm?

their amounts

their timing

their uncertainty

all of the above