Multiple Choice
Which of the following statements is correct?
A) Under the accrual basis of accounting,revenue is recorded in the period in which it is earned.
B) Under the accrual basis of accounting,expenses are recorded in the period in which they are paid.
C) Under the accrual basis of accounting,revenue is recorded in the period in which it is received.
D) Under the accrual basis of accounting,revenue is recorded in the period in which it is paid.
Correct Answer:
Verified
Correct Answer:
Verified
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