The System of Preparing Financial Statements Based on Recognizing Revenues

question 161

Multiple Choice

The system of preparing financial statements based on recognizing revenues when the cash is received and reporting expenses when the cash is paid is called:

• A) Accrual basis accounting.
• B) Operating cycle accounting.
• C) Cash basis accounting.
• D) Revenue recognition accounting.
• E) Current basis accounting.

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Definitions:

Surgical Asepsis

A method used to prevent microbial contamination during surgeries or invasive procedures to maintain a sterile environment.

Sterile Gloved

Wearing gloves that have been treated to be free from all microorganisms to maintain sterility during medical procedures.

Disinfecting Item

A process or product intended to eliminate pathogens and reduce the risk of spreading infections on surfaces or objects.

Post-Operative Infection

An infection that occurs after surgery in the part of the body where the surgery took place.