Which of the following statements is not true of the accrual basis of accounting? O a. The accrual basis of accounting follows the revenue recognition principle. O b. The accrual basis of accounting ignores the expense recognition principle. O c. The accrual basis of accounting is required by GAAP. O d. The accrual basis of accounting requires adjusting entries at the end of the accounting period.

Which of the following statements is not true of the accrual basis of accounting? a. The accrual basis of accounting follows the revenue recognition principle. b. The accrual basis of accounting ignores the expense recognition principle. c. The accrual basis of accounting is required by GAAP. d. The accrual basis of accounting requires adjusting entries at the end of the accounting period