The accounting basis that attempts to measure performance in the period in which it occurred is the
A)approval basis.
B)cash basis.
C)matching basis.
D)accrual basis.

Question

Quizplus · Accepted Answer

The accrual basis of accounting recognizes revenues and expenses when they are earned and incurred, respectively, regardless of when cash is received or paid. This basis provides a more accurate depiction of a company's performance during a given period.

The Accounting Basis That Attempts to Measure Performance in the Period