Which one of these is NOT true about Accrual Accounting? Question 3 options:

When a pledge is made, the income is recognised when the pledge is made, not when the donation is received. Revenue is recognised in the period in which it is earned, not when it is received. Expenses are reported in the period in which they are incurred, not when the bill is settled It uses Generally Accepted Accounting Principles, and is based on the period in which events occur. Accrual Accounting is NOT the preferred accounting method of government funders.