If C&S, Inc

question 96

Multiple Choice

If C&S, Inc. records expenses in the time period when incurred, they are using the:

• A)cash basis of accounting.
• B)accrual basis of accounting.
• C)adjustment basis of accounting.
• D)expense basis of accounting.

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Definitions:

Acceptable Name

A name for a chemical substance that follows current nomenclature rules and is agreed upon by scientific organizations.

Compound

A substance made up of two or more different elements that are chemically bonded together in a fixed ratio.

Common Name

The simplified, non-scientific name of a chemical substance or organism that is generally known and used.

Compound

A substance made up of two or more different elements chemically bonded together in a fixed ratio.