Accrual Accounting Relates the Financial Effects of a Company's Transactions

question 26

Multiple Choice

Accrual accounting relates the financial effects of a company's transactions

• A) so that the costs of nonoperational events are matched to the balance sheet in the period impacted
• B) to the period in which they occur rather than to when the cash receipts or payment occurs
• C) so that the revenue impact of every transaction in a period is properly reflected in the income statement
• D) so that the impact of every transaction is reflected in the statement of cash flows

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