Question
Which of the following statements about accrual accounting is NOT true? Judgements made by accountants affect profit. The financial statements include estimates. Transactions are recognised
Which of the following statements about accrual accounting is NOT true?
Judgements made by accountants affect profit.
The financial statements include estimates.
Transactions are recognised at the time when revenue and expenses occur.
The impact of transactions on the financial statements is recognised when the cash is received or paid.
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Strategic Managerial Accounting: Hospitality, Tourism & Events Applications
Authors: Tracy Jones, Helen Atkinson, Angela Lorenz, Peter Harris
6th Edition
