When the Amount of Interest Receivable Decreases During an Accounting

question 2

Multiple Choice

When the amount of interest receivable decreases during an accounting period:

• A)Accrual-basis revenues exceed cash collections from borrowers.
• B)Accrual-basis net income exceeds cash-basis net income.
• C)Accrual-basis revenues are less than cash collections from borrowers.
• D)Accrual-basis expenses are less than cash payments to borrowers.

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