If a Business Records Revenue When It Is Received and Records

question 33

Multiple Choice

If a business records revenue when it is received and records the purchase of a building as an asset and makes adjustments to allocate the cost of the building over many accounting periods,the business accounting system is a(n)

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

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