If a Business Records Revenues When Earned,regardless of Whether Cash

question 25

Multiple Choice

If a business records revenues when earned,regardless of whether cash has been received,and records expenses when they are incurred,the accounting system is a(n)

• A) accrual basis of accounting.
• B) cash basis of accounting.
• C) modified cash basis of accounting.
• D) revenue basis of accounting.

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Definitions:

Revenue Generation

The process through which a business or individual produces income from operations, sales, services, or other activities.

Product Service

A model which combines both product and service offerings to provide a comprehensive solution to a customer's need.

Impression Management

The process of controlling the perception or impression of oneself that is communicated to others, often in social or professional contexts.

Self-confidence

A feeling of trust in one's abilities, qualities, and judgment.