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In times of stress,what is released into the blood stream?
Cash Basis
An accounting method where revenue and expenses are recognized only when cash is received or paid out, respectively.
Receivables
Money owed to a company by its customers or clients for goods or services provided that have not yet been paid for.
Payables
Payables, also known as Accounts Payable, are liabilities of a company that represent money owed to creditors for goods and services received but not yet paid for.
Accrual Basis
An accounting method that records revenues and expenses when they are earned or incurred, regardless of when cash is exchanged.
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