Basis of accounting determines which of the following?
A) When transactions and events are recognized.
B) What transactions and events will be reported.
C) Where transactions and events will be reported.
D) Why transactions and events will be reported.

Question

Basis of accounting determines which of the following? 
A) When transactions and events are recognized.
B) What transactions and events will be reported.
C) Where transactions and events will be reported.
D) Why transactions and events will be reported.

Quizplus · Accepted Answer

The basis of accounting determines when transactions and events are recognized, such as in cash basis or accrual basis accounting.

Basis of Accounting Determines Which of the Following