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Which of the following best describes the cash basis of accounting? A. Revenues are recorded when they are earned regardless of when they are collected.
Which of the following best describes the cash basis of accounting?
A. Revenues are recorded when they are earned regardless of when they are collected.
B. Revenues are recorded when they are collected regardless of when they are earned.
C. Expenses are recorded when they are incurred regardless of when they are paid.
D. None of them are correct.
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