During November 2010,Asler,Inc.,performs consulting services.The client does not pay Asler until January 2011.
A)Using the accrual basis of accounting,the revenue is reported in January 2011
B)Using the cash basis of accounting,the revenue is reported in November 2010.
C)Using the accrual basis of accounting,the revenue is reported in November 2010.
D)Using the accrual basis of accounting,the revenue is reported when Asler's expenses are paid.

Question

Quizplus · Accepted Answer

The Answer is C