Question
If a business records revenues when earned, regardless of whether cash has been received, and records expenses when they are incurred, the accounting system is
If a business records revenues when earned, regardless of whether cash has been received, and records expenses when they are incurred, the accounting system is a(n)
a.modified cash basis of accounting.
b.cash basis of accounting.
c.revenue basis of accounting.
d.accrual basis of accounting.
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Accounting Understanding And Practice
Authors: Robert Perks
4th Edition
0077139135, 978-0077139131
