Generally Accepted Accounting Principles Require That Companies Use the ____

question 73

Multiple Choice

Generally accepted accounting principles require that companies use the ____ of accounting.

• A) cash basis
• B) deferral basis
• C) accrual basis
• D) account basis

---

Definitions:

Accounts Considered Current

Financial accounts that are up to date with payments and have no outstanding overdue amounts.

Billing Date

The specific date on which a bill or invoice is generated, indicating when a payment cycle starts or ends.

Claims Electronically

The submission of insurance claims or healthcare billing information using electronic systems.

Claims Manually

The process of submitting and processing insurance claims by hand or without the aid of automated systems.