Multiple Choice
During November 2015,Asler Inc.performs consulting services.The client does not pay Asler until January,2016.
A) Using the accrual basis of accounting, the revenue is reported in January 2016.
B) Using the cash basis of accounting, the revenue is reported in November 2015.
C) Using the accrual basis of accounting, the revenue is reported in November 2015.
D) Using the accrual basis of accounting, the revenue is reported when Asler's expenses are paid.
Correct Answer:
Verified
Correct Answer:
Verified
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