Accounting for the medical practice may be done in one of two ways: on a cash basis or on an _________ basis.

Name: Accounting for the medical practice may be done in one of two ways: on a cash basis or on an _________ basis.
Brand: Quizplus
Rating: 4.8 (46 reviews)

Question

Quizplus · Accepted Answer

Accounting for the medical practice, as well as many other businesses, can be done on an accrual basis, which means that revenues and expenses are recorded when they are earned or incurred, regardless of when the cash is actually received or paid.

Accounting for the Medical Practice May Be Done in One