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Which of the following best describes accrual accounting? A) Events are accounted for, even if cash does not change hands. B) Transactions are recorded a
Which of the following best describes accrual accounting?
A) Events are accounted for, even if cash does not change hands.
B) Transactions are recorded a the time they occur rather than when payment is actually made or received.
C) Accrual accounting is the opposite of cash accounting which recognizes transactions only when cash is exchanged.
D) All of the answers describe accrual accounting.
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