1,2,and 3. True or false?

In cash basis accounting, revenue is recorded when cash is received, and expenses are recorded when they are paid. True False Question 2 (5 points) Saved Generally Accepted Accounting Principles (GAAP) require the use of accrual basis of accounting. True False Question 3 (5 points) Saved The accounting period that is used for the annual financial statements and does not necessarily begin on January 1 st is called the fiscal year