The accrual basis of accounting recognizes revenue when realized (realization concept)and expenses when incurred (matching concept).

Name: The accrual basis of accounting recognizes revenue when realized (realization concept)and expenses when incurred (matching concept).
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The accrual basis of accounting follows the realization and matching concepts which recognize revenue when it is earned, regardless of when it is received, and expenses when they are incurred, regardless of when they are paid.

The Accrual Basis of Accounting Recognizes Revenue When Realized (Realization