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Which of the following statements about accrual accounting is true? Mul ple Choice Revenue is recorded only when cash is received. Revenue is recorded in

Which of the following statements about accrual accounting is true?

Mul

ple Choice

Revenue is recorded only when cash is received.

Revenue is recorded in the period when it is earned.

Revenue is recorded in the period when it is earned and expenses are recorded when they are incurred.

Expenses are recorded when they are incurred.

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