The Cash Basis of Accounting Records Revenues and Expenses When

Multiple Choice

The cash basis of accounting records revenues and expenses when the cash is exchanged while the accrual basis of accounting

A) records revenues when they are earned and expenses when they are paid
B) records revenues when they are earned and expenses when they are incurred
C) records revenues when cash is received and expenses when they are incurred
D) records revenues and expenses when the company needs to apply for a loan