Under accrual accounting, when are revenue and expenses recognized? a. Revenue is recognized when it is earned, and expenses are recognized when they are incurred. b. Revenue is recognized when it is earned, and expenses are recognized when cash is paid. c. Revenue is recognized when cash is received, and expense is recognized when the cost is incurred. O d. Revenue is recognized when cash is received, and expense is recognized when cash is paid.

Under accrual accounting, when are revenue and expenses recognized? a. Revenue is recognized when it is earned, and expenses are recognized when they are incurred. b. Revenue is recognized when it is earned, and expenses are recognized when cash is paid. c. Revenue is recognized when cash is received, and expense is recognized when the cost is incurred. d. Revenue is recognized when cash is received, and expense is recognized when cash is paic