Which of the Following Statements About Accrual Accounting Is True

question 99

Multiple Choice

Which of the following statements about accrual accounting is true ?

• A) Revenue is recorded only when cash is received.
• B) Expenses are recorded when they are incurred.
• C) Revenue is recorded in the period when it is earned.
• D) Revenue is recorded in the period when it is earned and expenses are recorded when they are incurred.

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Definitions:

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