View Policies Current Attempt in Progress Which of the following statements concerning accrual-basis accounting is incorrect? Accrual-basis accounting recognizes expenses when they are paid. Accrual-basis accounting is the method required by generally accepted accounting principles. Accrual-basis accounting follows the expense recognition principle. Accrual-basis accounting follows the revenue recognition principle. eTextbook and Media Save for Later Attempts: 0 of 1 used Submit Answ