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

question 126

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 generally accepted accounting principles.
• C) Accrual-basis accounting recognizes expenses when they are paid.
• D) Accrual-basis accounting follows the expense recognition principle.

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Definitions:

Training Evaluation

The process of assessing the effectiveness and impact of training programs on participants' performance and knowledge.

HR Department

A division within an organization responsible for managing recruitment, selection, employee relations, payrolls, and benefits, and ensuring compliance with employment laws.

Orientation Program

A structured introduction for new employees to familiarize them with the company, its policies, their colleagues, and their job responsibilities.

Behaviour Modelling

A training method that involves showing employees how to perform a task or behavior by demonstrating it and then allowing them to replicate the behavior.