Which of the following statements about the accrual basis of accounting is false? (a) Events that change
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Which of the following statements about the accrual basis of accounting is false?
(a) Events that change a company’s financial statements are recorded in the periods in which the events occur.
(b) Revenue is recognized in the period in which services are performed.
(c) This basis is in accord with generally accepted accounting principles.
(d) Revenue is recorded only when cash is received, and expense is recorded only when cash is paid.
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Related Book For
Financial And Managerial Accounting
ISBN: 9781118004234
1st Edition
Authors: Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt
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