A Method of Accounting in Which Income or Expenses Are

question 52

Multiple Choice

A method of accounting in which income or expenses are recorded at the time they are incurred,rather than when they are paid,is called

• A) Accrual basis
• B) Cash basis
• C) Time basis
• D) Expense basis

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Definitions:

Reward System

A mechanism designed by organizations to recognize and reward the contributions and achievements of employees, aiming to motivate and retain talent.

Interactions

The reciprocal action or influence between two or more entities, objects, or individuals, often resulting in a change or response.

Informal Rewards

Unofficial or non-structured forms of recognition and rewards given in a workplace, such as verbal praise, more autonomy, or flexible hours.

Skill-Based Pay

A compensation system that pays employees based on the range, depth, or mastery of their skills and knowledge, rather than their job title or position.