Reporting revenues when they are earned and expenses when they are incurred is called ________ basis accounting.
A)accrual
B)cash
C)expense recognition
D)cost

Name: Reporting revenues when they are earned and expenses when they are incurred is called ________ basis accounting. A)accrual B)cash C)expense recognition D)cost
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Question

Quizplus · Accepted Answer

Accrual basis accounting reports revenues when they are earned and expenses when they are incurred,regardless of the timing of cash receipts or payments.

Reporting Revenues When They Are Earned and Expenses When They