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Accrual accounting: A. is the system of accounting that records revenues in the accounting period in which they are earned and expenses in the accounting
Accrual accounting:
| A. is the system of accounting that records revenues in the accounting period in which they are earned and expenses in the accounting period in which the resources are used. | ||
| B. is the system of accounting that records revenues in the period in which cash payment is received and expenses in the accounting period when payment is made. | ||
| C. is not a form of accounting | ||
| D. is the accounting policy requiring that onces the proper accounting treatment for an issue has been determined, it be used consistently in future years. |
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