13. Whe n are revenues and expenses recognized in the same accounting period that cash receipts and payments occur? Select one: a. Under the cash basis of accounting b. Under the adjusting method of accounting. c. Under the accrual basis of accounting d. Under the asset-weighted method of accounting 14. Which of the following concepts is important to accrual accounting? Select one: a. Monetary unit, because inflation is a big factor in the environment b. Time period, because accrual accounting divides earnings into time periods c. Entity concept, because personal transactions must be separated from business transactions d. Cash basis, because if cash is not received, revenue is not accrued 15. When is revenue from the sale of merchandise normally recognized? Select one a. Either on the date of which the sale occurs, or the data on which the customer pays b. When the customer pays for the merchandise When the merchandise is sold, if sold for cash, or when payment is received, if sold d. One the date the sale is made