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Which of the following statements regarding the accrual accounting is TRUE? Expenses are recognized in the same period as the related revenue Expenses are recognized

Which of the following statements regarding the accrual accounting is TRUE? Expenses are recognized in the same period as the related revenue Expenses are recognized at year end.. Accrual accounting is not appropriate for monthly financial statements. Adjusting entries should not be needed if accrual accounting is followed strictly. Expenses are recognized when payment is made

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