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Which statement correctly identifies a key feature of accrual accounting? A) in general transactions are accounted for when cash is paid or received. B) In

Which statement correctly identifies a key feature of accrual accounting?

A) in general transactions are accounted for when cash is paid or received.

B) In general it recognises the impact of future transactions in the current accounting period.

C) In general transactions are accounted for when goods are acquired or obligations are incurred.

D) In general all transactions are recorded initially as either expenses or revenue.

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