Which of the Following Refers to the Method of Accounting

question 123

Multiple Choice

Which of the following refers to the method of accounting where revenues are recognized when they are earned and payment is reasonably assured?

• A) actuarial accounting
• B) managerial accounting
• C) accrual basis accounting
• D) LIFO accounting

---

Definitions:

Heroin

Is an opioid drug made from morphine, a natural substance taken from the seed pod of various opium poppy plants, highly addictive and illegal.

Cocaine

A powerful stimulant drug derived from the leaves of the coca plant, known for its potential for addiction and abuse.

LSD

A powerful psychedelic drug known for altering perception, mood, and various cognitive processes.

Barbiturates

A class of drugs that act as central nervous system depressants, used primarily as sedatives or hypnotics.