Select the answer from those provided which best describes the content of the profit and loss statement: Group of answer choices the recognition of revenue occurs when cash is received, while the recognition of expenses can occur at an earlier point. profit is calculated by matching cash outflows against cash inflows. transactions and events that affect an entity's financial position or performance are recognised when cash is received or paid, which may be at the same time as those transactions and events occur. transactions and events that affect an entity's financial position or performance are recognised when the transactions and events occur, which may be at the same time as the cash relating to those transactions and events is received or paid