Which of the Following Statements Is True of Accrual Basis

question 91

Multiple Choice

Which of the following statements is true of accrual basis accounting?

• A)Accrual basis accounting is required by Generally Accepted Accounting Principles (GAAP).
• B)Accrual basis accounting records expenses only when cash has been paid for them.
• C)Accrual basis accounting records revenue only when cash is received.
• D)Accrual basis accounting always results in greater net income than cash basis accounting.

---

Definitions:

Wilhelm Stern

A German psychologist known for his pioneering work in the field of intelligence measurement and for proposing the concept of the Intelligence Quotient (IQ).

Reynolds Intellectual Assessment Scale

A comprehensive cognitive assessment tool used to evaluate the intelligence and cognitive abilities of children and adolescents.

Stanford-Binet Intelligence Scale

A standardized test that assesses intelligence and cognitive abilities in individuals, widely used in educational settings for diagnostics and placement.

Wechsler Scale

A set of standardized tests used to assess the intelligence of children and adults, taking both verbal and performance IQ into account.