The assumption which requires transactions to be recognised in the accounting reports when they occur and not when the cash is received or paid is:
A) accrual basis.
B) accounting entity.
C) faithful representation.
D) accounting period.

Question

Quizplus · Accepted Answer

The assumption which requires transactions to be recognised in the accounting reports when they occur and not when the cash is received or paid is the accrual basis.

The Assumption Which Requires Transactions to Be Recognised in the Accounting