How are transactions recorded under accrual accounting? O A. Accrual-basis accounting records revenues when cash is received and records expenses when cash is paid. IFRS is based on accrual-basis accounting as opposed to a cash-basis system. O B. Accrual-basis accounting records revenues according to the revenue recognition principle and records expenses based on materiality. Accrual-basis accounting records revenues when earned and expenses when incurred. O C. Accrual-basis accounting records revenues according to the revenue recognition principle and records expenses according to the expense recognition principle, regardless of when cash is received or paid. Accrual-basis accounting records revenues when earned and expenses when incurred. OD. Accrual-basis accounting records revenues and expenses in a specific time in the future when it is beneficial for the company to report it