The Method of Accounting That Records Revenues ONLY When Cash

question 147

Multiple Choice

The method of accounting that records revenues ONLY when cash is received is the:

• A)deferral method.
• B)cash-basis method.
• C)accrual-basis method.
• D)hybrid method.

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Definitions:

Government

The organization, or system of governance, that exercises authority and performs the functions of governing a political state or community.

Market Price

The present cost at which a service or asset is available for purchase or sale.

Government Allow

Governmental permissions or grants that enable individuals or entities to legally perform activities or exploit resources.

Shortage Of Coffee

A situation where the demand for coffee exceeds its supply, leading to a decrease in available coffee stocks.