The accountant recognizes revenues and expenses on

Name: The accountant recognizes revenues and expenses on
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The accrual basis of accounting recognizes revenues when they are earned, regardless of when they are received, and recognizes expenses when they are incurred, regardless of when they are paid. This is the most widely used basis of accounting because it provides a more accurate picture of a company's financial position and performance.

The Accountant Recognizes Revenues and Expenses on