An Expense Occurred in 2013,and It Is Not Paid Until

question 158

Multiple Choice

An expense occurred in 2013,and it is not paid until 2014.Using cash-basis accounting,the expense should appear on:

• A)the 2013 income statement.
• B)the 2014 income statement.
• C)neither the 2013 nor the 2014 income statement.
• D)both the 2013 and 2014 income statements.