Financial accounting is used by: O a. Only internal users b. Both internal and external and internal users @c. Internal users ed. By external users Under this accounting principle the business must use the purchase/acquisition value of the asset to record the transaction in the books of account. a. Historical cost principles Ob. Consistency principles c. Dual aspects principles d. Accounting entity principles Which Accounting method requires revenue to be recorded when a sale is made and expense is recorded when it is incurred, regardless of when cash is exchanged. a. Credit Basis b. Cash Basis c. None of these d. Accrual Basis Life