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Summary QuestionUsing accrual accounting, revenues are recorded Oa. when cash is received at th $7.99
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Summary QuestionUsing accrual accounting, revenues are recorded Oa. when cash is received at th
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Using accrual accountingQuestionUsing accrual accounting, revenues are recorded Oa. when cash is received at the time services are performed or products have been delivered to customers Ob. when cash is received without regard to when the services are performed or products have been delivered...

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  • October 13, 2024
  • 2
  • 2024/2025
  • Summary

Subjects

  • using accrual accountingïquestionusing accrual a
  • revenues are recorded oa when cash is received a
  • regardless of when cash transactions occur this

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Question


Using accrual accounting, revenues are recorded Oa. when cash is received at

the time services are performed or products have been delivered to customers

Ob. when cash is received without regard to when the services are performed or

products have been delivered to customers Oc. only if cash is received after the

services are performed or products have been delivered to customers O d. when

a service has been performed or products have been delivered to customers

without regard to when cash is received




Answer & Explanation


The correct answer is:


Od. when a service has been performed or products have been delivered to

customers without regard to when cash is received


Explanation:


Accrual accounting recognizes revenues and expenses when they are incurred,

regardless of when cash transactions occur. This means that:

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