Under accrual accounting,revenue is recorded:
A) when the cash is received,regardless of when the services are performed.
B) when the services are performed,regardless of when the cash is received.
C) at the end of every month.
D) only if the cash is received at the same time the services are performed.
Correct Answer:
Verified
Q1: The only way for a business to
Q2: When cash-basis accounting is used,and services are
Q3: An expense occurred in 2018,and it is
Q4: Accrual accounting records the impact of both
Q5: The journal entry to record a cash
Q7: Which of the following is a CORRECT
Q8: An expense occurred in 2018,but it is
Q9: Under accrual-basis accounting,if a company fails to
Q10: Cash-basis accounting is a better representation of
Q11: The basic defect of cash-basis accounting is
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents