It is true that
A)profit is the excess in cash inflows from income over the cash outflows from expenses.
B)income is recognised when the economic benefits are certain and can be reliably measured.
C)whether a transaction is made with cash or credit has no effect on the profit of an entity.
D)income is only recognised when cash is received

Question

Quizplus · Accepted Answer

The Answer of It is true that
A)profit is the excess in cash inflows from income over the cash outflows from expenses.
B)income is recognised when the economic benefits are certain and can be reliably measured.
C)whether a transaction is made with cash or credit has no effect on the profit of an entity.
D)income is only recognised when cash is received

It Is True That