Which of the following is not true concerning the accrual basis of accounting? a. Revenues are recognized

Question:

Which of the following is not true concerning the accrual basis of accounting?
a. Revenues are recognized when earned.
b. Expenses are recognized when incurred.
c. Cash received for services to be performed in future months is recognized as revenue when the cash is received.
d. Cash received for services to be performed in future months is recognized as a liability when the cash is received.

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