An accountant recognizes the impact of a business event as it occurs and accounts for it appropriately in which basis of accounting?

Question

Quizplus · Accepted Answer

The accrual basis of accounting recognizes revenue and expenses as they are earned or incurred, regardless of when the cash is actually received or paid. This allows for a more accurate representation of a business's financial position and performance.

An Accountant Recognizes the Impact of a Business Event as It