Which of the Following Expressions Correctly Describes When Revenues and Expenses

Multiple Choice

Which of the following expressions correctly describes when revenues and expenses are recognized under accrual basis accounting?

A) Revenues when cash is received;expenses when cash is paid.
B) Revenues when cash is received;expenses when the expense is incurred.
C) Revenues when the performance obligation is satisfied;expenses when the expense is incurred.
D) Revenues when the performance obligation is satisfied;expenses when cash is paid.