Which of the following statements is true?

Select one:

a. The Balance Sheet is prepared on the accrual basis and the Income Statement and Cash Flow Statement are prepared on the cash basis.

b. The Balance Sheet and Income Statement are prepared on the accrual basis and the Cash Flow Statement is prepared on the cash basis.

c. The Income Statement is prepared on the accrual basis and the Balance Sheet and Cash Flow Statement are prepared on the cash basis.

d. All three statements are prepared on the accrual basis.