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Which of the following statements about accrual accounting is true ? Multiple Choice A.Revenue is recorded only when cash is received. B. Expenses are recorded

Which of the following statements about accrual accounting is true ?

Multiple Choice

A.Revenue is recorded only when cash is received.

  • B. Expenses are recorded when they are incurred.

  • C. Revenue is recorded in the period when it is earned.

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

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