________ Basis Accounting Means That Revenues Are Recognized When Cash

question 69

Short Answer

________ basis accounting means that revenues are recognized when cash is received and that expenses are recorded when cash is paid. ________ basis accounting means that the financial effects of revenues and expenses are recorded when earned or incurred.

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Definitions:

Illocution

Words placed in sequence and the context in which this is done.

Semantics

Refers to the study of meanings in language, including how words and phrases express concepts and how these meanings change in different contexts.

Linguistic Categories

The classification of words and expressions in languages into specified groups based on their meanings, functions, or syntactic properties.

Prelinguistic Communication

Early forms of communication exhibited by infants before they develop the ability to use language.