The "cash basis" system of accounting used by most physicians means that
A) credit is used as little as possible.
B) charges are recorded as income at the time they are received.
C) a simple bookkeeping system is used.
D) expenses are recorded at the time they are incurred.

Question

Quizplus · Accepted Answer

Cash basis systems of accounting record charges as income at the time the charges are received.

The "Cash Basis" System of Accounting Used by Most Physicians