Examlex
All of the following are assumptions of realism except
Cash Basis
An accounting method where revenues are recognized when received and expenses when paid, contrasting with accrual basis accounting.
Incurred
Costs or expenses that a company has obtained or become responsible for as a result of its operations.
Accrual-Basis Accounting
An accounting method where revenue and expenses are recorded when they are earned or incurred, regardless of when the cash is received or paid.
Deferred Revenue
Income received by a company for goods or services yet to be delivered or performed, recognized as a liability until the obligation is fulfilled.
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