Which of the Following Statements Is Correct

question 57

Multiple Choice

Which of the following statements is correct?

• A)Under the accrual basis of accounting, revenue is recorded in the period in which it is received.
• B)Under the accrual basis of accounting, revenue is recorded in the period in which it is earned.
• C)Under the accrual basis of accounting, revenue is recorded in the period in which it is paid.
• D)Under the accrual basis of accounting, expenses are recorded in the period in which they are paid.

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Definitions:

Bredt's Rule

A principle in organic chemistry stating that bridgehead carbon atoms cannot possess double bonds if the ring system is small due to excessive angle strain.

2-Butanol

An organic chemical compound, a secondary alcohol, with the formula CH3CH(OH)CH2CH3, characterized by a hydroxyl group attached to the second carbon of a butane chain.

Butane

A gas compound known as C4H10, which can be found in two different structural variations, utilized for fuel and cooling purposes.

Dehydrohalogenation

A chemical reaction in which a halogen atom and a hydrogen atom are removed from an organic molecule, forming an alkene.