Under the cash basis of accounting,a certain expense may be incurred in one period but not entered until the following period.

Question

Quizplus · Accepted Answer

In the cash basis of accounting, expenses are recorded when they are paid, regardless of when they were incurred. This means that an expense may be incurred in one period but not entered until the following period if it is paid during that period.

Under the Cash Basis of Accounting,a Certain Expense May Be