An Accountant Records a Transaction When Cash Is Paid or Received

question 55

Multiple Choice

An accountant records a transaction when cash is paid or received under which basis of accounting?

• A)Cash
• B)Accrual
• C)Deferral
• D)Prepaid
• E)Cost recovery

---

Definitions:

Intervention

The act of becoming involved in an issue, problem, or conflict to alter the outcome or influence the situation.

Cirrhosis

A chronic liver disease marked by degeneration of liver tissue, fibrosis, and the formation of scar tissue, often resulting from long-term alcohol abuse or hepatitis.

Irreversible Condition

A medical or psychological state that cannot be undone or restored to its original condition, often leading to permanent limitations.

Liver

A large, vital organ in the human body that performs many essential functions related to digestion, metabolism, immunity, and the storage of nutrients within the body.