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Which one of these statements about the accrual-basis of accounting is false? Companies record revenue only when they receive cash, and record expense only when
Which one of these statements about the accrual-basis of accounting is false? Companies record revenue only when they receive cash, and record expense only when they pay out cash. This basis is in accord with generally accepted accounting principles. Companies recognize revenue in the period in which the performance obligation is satisfied. Companies record events that change a company's financial statements in the periods in which the events occur
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