Which of the following is not a characteristic of the accrual basis of accounting? Oa. accrual basis of accounting supports the matching concept Ob. revenues and expenses are reported in the period in which cash is received or paid Oc. revenues are reported when services have been performed or products have been delivered to customers Od. expenses are reported in the same period as the revenues to which they relate Generally accepted accounting principles require that companies use the Oa. account basis Ob. deferral basis Oc. cash basis Od. accrual basis of accounting. The cash basis of accounting records revenues and expenses when the cash is exchanged while the accrual basis of accounting Oa. records revenues when they are earned and expenses when they are incurred Ob. records revenues when they are earned and expenses when they are paid Oc. records revenues and expenses when the company needs to apply for a loan Od. records revenues when cash is received and expenses when they are incurred By matching revenue earned during the accounting period to related incurred expenses Oa. net income or loss will always be overestimated Ob. net income or loss will always be underestimated Oc. net income or loss will not be determined Od. net income or loss will be properly reported on the income statement Which of the following is considered to be unearned revenue? Oa. theater tickets sold yesterday on credit for yesterday's performance Ob. theater tickets sold last month for yesterday's performance Oc. theater tickets that were not sold for the current performance Od. theater tickets sold for next month's performance Which of the following is an example of accrued revenue? Oa. snow removal services that have been paid for three months in advance Ob. an agreement that has been signed for snow removal services for the next three months Oc. snow removal services that have been provided and paid on the same day Od. snow removal services that have been provided but have not been billed or paid