In the context of proper accounting techniques, the system that recognizes expenses when they are paid for and recognizes revenue as it is generated is known as ________.

Question

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Cash-based accounting recognizes expenses when they are paid and revenue when it is received. This contrasts with accrual-based accounting, which recognizes expenses when they are incurred and revenue when it is earned, regardless of when money is actually exchanged.

In the Context of Proper Accounting Techniques, the System That