3. Recognizing an economic effect in the current period even though the cash flows will occur in a later period is known as a. An accrual. b. A deferral. c. Conservatism. d. The monetary unit assumption, by x

3. Recognizing an economic effect in the current period even though the cash flows will occur in a later period is known as a. An accrual. b. A deferral. c. Conservatism. d. The monetary unit assumption