Under the accrual basis of accounting,only income that has been earned appears on the income statement.

Name: Under the accrual basis of accounting,only income that has been earned appears on the income statement.
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The accrual basis of accounting requires income to be recognized when it has been earned, even if payment has not been received yet. Therefore, only income that has been earned (not just received) will appear on the income statement under the accrual basis of accounting.

Under the Accrual Basis of Accounting,only Income That Has Been