QUESTION 3 Which of the following statements is true? a The primary difference between the cash and accrual basis methods of accounting concerns the amount of revenue that a business records from a paniculare Ob Under cash basis accounting, a business records rent expense in the period that it uses teased space even when the business pays cash to the landlord in a different period Generally Accepted Accounting Principles (GAAP) require the use of cash basis accounting d. Under cash basis accounting, companies recognize revenues when they collect cash from customers QUESTION 4 Which of the following statements is true? O a Under accrual basis accounting, companies recognize revenues when they collect cash from customers Ob Under accrual basis accounting, a business records rent exponse in the period that it pays its landlord. Oc Under accrual basis accounting, supplies expense is recorded when a company consumer inventory even when the business pays for the supplies in a different period od Under accrual basis accounting, companies recognize an expense in the period when the employees are paid QUESTION 5 Which of the following is a revenue account? a. Fees Earned On Accounts Payable c Telephone Expense d Accounts Receivable QUESTION 6