Which of the Following Regarding Accrual Versus Cash-Basis Accounting Is

Multiple Choice

Which of the following regarding accrual versus cash-basis accounting is true?

A) The FASB believes that the cash basis is appropriate for some smaller companies,especially those in the service industry.
B) The cash basis is less useful in predicting the timing and amounts of future cash flows of an enterprise.
C) Application of the cash basis results in an income statement reporting only revenues.
D) The cash basis requires a complete set of double-entry records.