In Cash Basis Accounting, Revenue Is Recognized When Cash Is

question 148

True/False

In cash basis accounting, revenue is recognized when cash is received and expenses are recognized when they are paid.

---

Definitions:

Terminally Ill

A state of having a disease or condition that is incurable and expected to lead to death.

Emotional Stress

Emotional stress involves feelings of strain and pressure resulting from adverse or demanding circumstances, differing from physical stress in its psychological impact.

Free Association

A psychoanalytic technique in which a patient says whatever comes to mind without censorship as a way to explore the unconscious.

Psychodynamic

A psychological theory or approach that examines the unconscious processes as they are manifested in a person's present behavior.