________ Is an Accounting Method in Which Revenue Is Recorded

question 41

Multiple Choice

________ is an accounting method in which revenue is recorded when a sale is made,and expense is recorded when it is incurred.

• A) Accrual basis
• B) Cash basis
• C) Profit basis
• D) Depreciation
• E) Deferral basis

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Definitions:

Benefit

A positive outcome, advantage, or gain that is obtained or received, often as a result of an action, decision, or policy.

Parasitism

An interaction between species where one organism (the parasite) lives on or in another organism (the host), causing it harm.

Commensalism

A relationship between two living organisms where one benefits without harming or benefiting the other.

Succession

The process by which the structure of a biological community evolves over time, often following a disturbance.