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The accrual method of accounting; Multiple Choice Recognizes revenue only when cash has been paid Recognizes revenues and expenses independent of cash inflows and outflows
The accrual method of accounting;
Multiple Choice
- Recognizes revenue only when cash has been paid
- Recognizes revenues and expenses independent of cash inflows and outflows
- Recognizes cash revenues against the expenses paid in the previous period
- Does not involve judgment by management on the timing
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