Which of the Following Accounts Would Be Used Under the Accrual

question 161

Multiple Choice

Which of the following accounts would be used under the accrual basis of accounting,but not under cash basis accounting?

• A) Cash
• B) Unearned Revenue
• C) Service Revenue
• D) Salaries Expense

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Definitions:

Good

An item or product that can be bought, sold, or provided in an exchange and is intended to satisfy a want or need.

Burden

In economic contexts, it often refers to the impact of taxes or regulations on individual or corporate finances.

Tax

Mandatory financial contributions imposed by governments on individuals, businesses, or transactions to finance government activities.

Buyers

Individuals or entities that purchase goods or services from sellers in exchange for money or other valuable considerations.