Under the accrual basis of accounting, cash receipts and cash disbursements may: Be recognized only in the period in which they are received or disbursed. Occur before, in the same period as, or after the period in which revenues and expenses are recognized Occur in the same period or the following, but never before, the period in which revenues and expenses are recognized Occur before or in the same period as, but never after, the period in which revenues and expenses are recognized