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

---

Definitions:

Groupthink

A psychological phenomenon occurring within a group of people, where the desire for harmony or conformity results in an irrational or dysfunctional decision-making outcome.

Restricted Network

A network that limits access to authorized users and often implements controls to manage information flow and data security.

Lack Of Response

A situation where there is no reply or acknowledgement to a communication or stimulus.

Restricted Network

A limited or closed communication system where access or membership is controlled or confined to specific users or groups.