The cash basis of accounting records revenues and expenses when the cash is exchanged while the accrual basis of accounting
A) records revenues when they are earned and expenses when they are paid
B) records revenues and expenses when they are incurred.
C) records revenues when cash is received and expenses when they are incurred.
D) records revenues and expenses when the company needs to apply for a loan.
B
You might also like to view...
Leader–member exchange theory explains that people are often subconsciously placed into two different groups of followers. What are the two groups?
A. minority group and majority group B. leadership group and follower group C. telling group and selling group D. in-group exchange and out-group exchange
________ reports examine problems with two or more solutions
A) Yardstick B) Progress C) Justification/recommendation D) Investigative
Red circle rates above the maximum for the range can result because
A. promotional opportunities are plentiful. B. employees have high seniority. C. employees are demoted. D. grades are added to the range.
To identify Omar and verify his eligibility to work in the United States, Poultry Processing Corporation relies on a school identification card. The card later proves to be invalid.Poultry Processing may
a. be sanctioned for violating antidiscrimination law. b. be sanctioned for violating immigration law. c. not be sanctioned for violating any law. d. be sanctioned for violating principal-agent law.