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Which of the following statements is false in regard to accrual accounting? rev: 02_01_2016_QC_CS-39914 Revenue is recorded only when cash is received. Expenses are recorded

Which of the following statements is false in regard to accrual accounting?

rev: 02_01_2016_QC_CS-39914

Revenue is recorded only when cash is received. Expenses are recorded when they are incurred. Revenue is recorded in the period when it is earned. Expenses are recorded when they are incurred and revenue is recorded in the period when it is earned.

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