Which of the Following Statements Concerning Accrual-Basis Accounting Is Incorrect

question 278

Multiple Choice

Which of the following statements concerning accrual-basis accounting is incorrect?

• A) Accrual-basis accounting follows the revenue recognition principle.
• B) Accrual-basis accounting is the method required by IFRS.
• C) Accrual-basis accounting recognizes expenses when they are paid.
• D) Accrual-basis accounting follows the expense recognition principle.

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