The income statement reports earned income on $\_\_\_\_\_,$ and the cashflow statement is based on $\_\_\_\_\_\_.$

Question $4$Answer

a$.$

A cash$-$basis, cash$-$basis accounting

b$.$

An accrual$-$basis, accrual basis accounting

c$.$

An accrual$-$basis, cash$-$basis accounting

d$.$

A cash$-$basis, accrual$-$basis accounting