Under Cash-Basis Accounting,cash Receipts Are Treated as ________ and Cash

question 18

Multiple Choice

Under cash-basis accounting,cash receipts are treated as ________ and cash payments are treated as ________.

• A)retained earnings;dividends
• B)retained earnings;income
• C)revenues;expenses
• D)gains;losses

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Definitions:

Compensation

Payment or reward given for services or to make up for someone's loss, damage, or injury.

Fixed Image

Fixed image is a concept or belief that remains unchanged over time, often impeding the ability to see different perspectives or adapt to new information.

Stereotype

A widely held but fixed and oversimplified image or idea of a particular type of person or thing.

Nonverbal Communication

The process of conveying a message without the use of words, including through facial expressions, body language, gestures, and tone of voice.