Cash-Basis Accounting Is a Better Representation of the Time-Period Concept

question 152

True/False

Cash-basis accounting is a better representation of the time-period concept and the revenue principle.

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Definitions:

Bromobenzene

An aromatic bromine compound used frequently in organic synthesis, as a bromination precursor for making various organic products.

Benzenesulfonic Acid

An organosulfur compound characterized by a benzene ring bonded to a sulfonic acid group, used in various chemical syntheses.

Bromination

A chemical reaction involving the addition of bromine to another substance, often leading to the substitution or addition of bromine atoms in organic compounds.

Toluene

A colorless, water-insoluble liquid hydrocarbon (C7H8) derived from coal tar or petroleum, used as a solvent and in the manufacture of various chemicals.