An Accounting Method That Records Revenues and Expenses When They

question 7

Multiple Choice

An accounting method that records revenues and expenses when they occur, not when cash actually changes hands, is called which of the following?

• A) cost accounting
• B) accrual accounting
• C) asset based accounting
• D) present value accounting

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Definitions:

Urine Concentration

The process by which the kidneys regulate the electrolyte balance and water content in the body by adjusting the volume and concentration of urine.

Antidiuretic Hormone

A hormone also known as vasopressin that helps control the balance of water in the body by reducing the amount of water excreted in the urine.

Insulin

Pancreatic hormone that encourages uptake of glucose by target cells; lowers level of glucose in the blood.

Unwanted Solutes

Substances dissolved in a fluid (like water) that are not desired, often requiring processes for their removal.