Which of the following statements about cash basis accounting and accrual basis accounting is correct? O Using the accrual basis of accounting, if payment is received before delivery of goods or a service, revenue is recorded at the time the payment is received. Using the accrual basis of accounting, if payment is received after delivery of goods or a service, an asset is recorded at the time the good or service was delivered. Using the cash basis of accounting, if payment is received before delivery of goods or a service, net income is affected when goods or services are delivered. Using the cash basis, if payment is received after delivery of goods or a service, deferred revenue is recorded