Which of the Following Statements Is True Regarding Accrual Accounting

question 19

Multiple Choice

Which of the following statements is true regarding accrual accounting?

• A)Revenue is recorded only when cash is collected.
• B)Expenses are recorded when they are incurred.
• C)Revenue is recorded in the period when it is earned.
• D)Revenue is recorded in the period when it is earned and expenses are recorded when they are incurred.

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Definitions:

Bias

A systematic error or deviation from true values in data collection, analysis, interpretation, or review.

Treatments

Specific experimental conditions applied to groups or individuals in an experimental study to investigate the effects on an outcome of interest.

Bias

A systematic error or deviation from the truth, in statistics and machine learning, which can lead to incorrect conclusions being drawn from data.

Randomly

In a manner lacking any predictable pattern or plan.