The ____________________ Is a Method of Accounting Under Which Revenues

question 85

Short Answer

The ____________________ is a method of accounting under which revenues are recorded when paid by customers and expenses are recorded when cash is paid.

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Definitions:

Minor

An individual under the legal age of adulthood, generally unable to enter into enforceable contracts except for certain necessities.

Limited Capacity

A legal status or condition that restricts an individual's ability to legally enter into contracts due to factors like age, mental competency, or intoxication.

Contract

A commitment between two or more individuals or groups that is backed by and enforceable through the legal system.

Misrepresents Age

The act of intentionally providing a false age or birth date, typically to bypass age restrictions or for other benefits.