If Accounts Receivable Have Increased During the Period

question 25

Multiple Choice

If accounts receivable have increased during the period

• A) revenues on an accrual basis are less than revenues on a cash basis.
• B) revenues on an accrual basis are greater than revenues on a cash basis.
• C) revenues on an accrual basis are the same as revenues on a cash basis.
• D) expenses on an accrual basis are greater than expenses on a cash basis.

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Definitions:

GST Returns

A tax form that businesses must fill out to report the income collected through Goods and Services Tax (GST).

Remitted

The process of sending money in payment or as a gift.

Photographic Equipment

Devices and accessories used in the process of capturing images, such as cameras, lenses, tripods, and lighting equipment.

Add-On Option

A feature that can be added to a financial product or service, often for an additional cost, providing extra benefits or coverage.