Using Accrual Accounting, Expenses Are Recorded and Reported Only

question 92

Multiple Choice

Using accrual accounting, expenses are recorded and reported only

• A) when they are incurred, whether or not cash is paid
• B) when they are incurred and paid at the same time
• C) if they are paid before they are incurred
• D) if they are paid after they are incurred

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Definitions:

Nosepiece

The part of a microscope that holds the objectives and can be rotated to change the magnification.

Objective Lenses

Lenses closest to the specimen in a microscope that magnify the image of the sample.

Focus Knobs

Controls on a microscope that adjust the clarity and sharpness of the specimen being viewed by moving the lenses closer or farther from the specimen.

Iris Diaphragm

A mechanical device, typically part of a camera or microscope, that controls the amount of light passing through a lens or onto a specimen.