Using accrual accounting, revenue is recorded and reported only

when cash is received without regard to when the services are rendered

when the services are rendered without regard to when cash is received

when cash is received at the time services are rendered

if cash is received after the services are rendered

Question $10(1\mathrm{.}5$ points$)$

The objectivity concept requires that

business transactions be consistent with the objectives of the entity

the Financial Accounting Standards Board be fair and unbiased in its deliberations over new accounting

standards

accounting principles meet the objectives of the Security and Exchange Commission