Which of the following statements regarding cash and accrual accounting is true? The cash basis of accounting works best when a lengthy delay exists between the timing of cash flows and the underlying business activities to which they relate. If a company receives a bill for rent for the period and decides to delay payment, the rent will not be recorded as an expense according to the accrual model of accounting. If a company receives a bill for rent for the period and decides to delay payment, the rent will not be recorded as an expense according to the accrual model of accounting. If payment is received at the same time a service is produced and sold, there is no difference between how cash and accrual accounting record the transaction