An accountant recognizes the impact of a business event when cash is received or paid in which basis of accounting?
A)accrual
B)managerial
C)cash-basis
D)financial

Question

Quizplus · Accepted Answer

The cash-basis accounting method recognizes the impact of transactions and events when cash is actually received or paid out, not when the transactions occur, which is characteristic of accrual accounting.

An Accountant Recognizes the Impact of a Business Event When