Fill-in-the-blank question - put the letter (e.g., b) that corresponds to the correct answer in the box below. Which of the following statements best describes accrual accounting? a. Accrual accounting records financial transactions only when cash is received or paid b. Accrual accounting recognizes revenues when they are earned and expenses when they are incurred, regardless of the timing of cash receipts or payments c. Accrual accounting focuses on matching revenues and expenses to the period in which they are generated without considering cash flows d. Accrual accounting is an accounting method that prioritizes cash flow over revenue and expense recognition