When the accrual basis of accounting is used, expenses are recognized only in the period during which they are paid.

Name: When the accrual basis of accounting is used, expenses are recognized only in the period during which they are paid.
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When the accrual basis of accounting is used, expenses are recognized when they are incurred, not necessarily when they are paid. This means that an expense can be recognized even if the payment for that expense has not yet been made.

When the Accrual Basis of Accounting Is Used, Expenses Are