3 multiple choice questions

Which of the following statements is true of the accrual basis of accounting? a. The accrual basis of accounting eliminates the need for adjusting entries. Ob. Expenses are recorded when cash is paid. Oc. Revenues are recorded when cash is received. Od. Revenues are recorded when eamed. Astin Company has current assets of $82,530, total assets of $242,050, total net income of $58,240, current liabilities of $72,120, and total abilities of $205,300. Astin Company's working capital is a $68,650 b. 310,410 c. 536,570 d. 524.920 Astin Company has current assets of $82,530, total assets of $242,050, net income of $58,240, current liabilities of $72,120, and total abilities of $205,300. Astin Company's current ratio is a. 19 Ob. 1.2 Oc 14 Od