Accrual accounting is the practice of recording economic activity when recognized rather than waiting until realized.

Name: Accrual accounting is the practice of recording economic activity when recognized rather than waiting until realized.
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Quizplus · Accepted Answer

Accrual accounting records economic activity when it is recognized, regardless of whether it has been realized or not. This is in contrast to cash accounting which records economic activity when cash is exchanged.

Accrual Accounting Is the Practice of Recording Economic Activity When