The accounting basis that attempts to measure performance in the period in which it occurred is the
A) IFRS Basis
B) Cash Basis
C) Matching Basis
D) Accrual Basis
E) Revenue Recognition Basis

Question

Quizplus · Accepted Answer

The accrual basis of accounting records revenue and expenses when they are incurred, rather than when payment is received or made. This allows for a more accurate representation of the financial performance of a business in a given period.

The Accounting Basis That Attempts to Measure Performance in the Period