Which of the following is not a characteristic of accrual basis of accounting? 1. Revenues and expenses
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Question:
“Which of the following is not a characteristic of accrual basis of accounting?”
1. Revenues and expenses are reported in the period in which cash is received or paid
2. Revenues are reported in the income statement in the period in which they are earned
3. Supports the matching concept
4. All are correct.
Related Book For
Governmental and Nonprofit Accounting
ISBN: 978-0132751261
10th edition
Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi
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