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Which of these statements is/are correct? 1 Under accrual basis accounting, revenue is recorded when the sales transaction occurs even if no cash is received.
Which of these statements is/are correct? 1 Under accrual basis accounting, revenue is recorded when the sales transaction occurs even if no cash is received. || In cash basis accounting, revenue is recorded when cash is received regardless of when it is earned. Select one: O a. Both (l) and (II) are incorrect O b. Only 1 is correct O c. Only Il is correct O d. Both () and (II) are correct
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