For revenue to be earned under the cash basis of accounting,the cash from the customer must be received.

Name: For revenue to be earned under the cash basis of accounting,the cash from the customer must be received.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Revenue is recorded in the cash basis of accounting only when cash is received from the customer. This means that even if goods or services have been delivered, revenue cannot be recognized until payment is received.

For Revenue to Be Earned Under the Cash Basis of Accounting,the