At the Time the Transaction Occurred,which of the Following Would

question 172

Multiple Choice

At the time the transaction occurred,which of the following would result in an increase in net income under the accrual basis of accounting,but would not result in an increase in net income under cash basis accounting?

• A) purchase of supplies for cash
• B) performance of services on account
• C) use of supplies purchased earlier
• D) receipt of cash for services that were performed earlier on account

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Definitions:

Gastrula

An early stage in embryonic development where the embryo consists of layers of cells (ectoderm, mesoderm, and endoderm) that will develop into different organs and tissues.

Germ Layers

The three primary layers of cells (ectoderm, mesoderm, and endoderm) in the early embryo from which all tissues and organs develop.

Fertilized Egg

A fertilized egg is the result of the fusion of a male sperm cell and a female ovum, marking the beginning of a new organism's development.

Umbilical Blood Vessels

The blood vessels in the umbilical cord that carry oxygen and nutrients from the mother to the fetus and waste products back to the mother.