Which Statement Is Correct

question 6

Multiple Choice

Which statement is correct?

• A) As long as a company consistently uses the cash basis of accounting, IFRS allow its use.
• B) The use of the cash basis of accounting violates both the revenue recognition and expense recognition principles.
• C) The cash basis of accounting is objective because no one can be certain of the amount of revenue until the cash is received.
• D) As long as management is ethical, there are no problems with using the cash basis of accounting.

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Definitions:

Stroke

A medical condition characterized by the sudden death of brain cells due to lack of oxygen, caused by blockage or rupture of blood vessels in the brain.

Heart Disease

A broad term for a range of diseases affecting the heart, including coronary artery disease, heart rhythm problems, and congenital heart defects.

Excess WBCs

Refers to an abnormal increase in white blood cells, which can indicate the body's response to infection or other conditions such as leukemia.

Leukemia

A cancer variety impacting the blood and bone marrow, noted for the unchecked proliferation of atypical white blood cells.