Can you complete the sentence? The accrual basis of accounting - ProProfs Discuss
Topics
Products
Follow Us:

Can you complete the sentence?
The accrual basis of accounting records revenues when they are____

This question is part of Fundamentals of Accounting Test Quiz!
Asked by Rsahiwal, Last updated: Jul 03, 2020

+ Answer
Request

2 Answers

bcjunk

Bcjunk

Answered Jan 28, 2020

This is flat wrong. CASH BASIS accounting records revenue when cash is collected. Accrual basis accounting follows the matching principle and records revenue when EARNED.

 

rsahiwal

Rsahiwal

Answered Mar 04, 2019

Collected

The accrual basis of accounting only records income when it is earned.
 

Search for Google images
Select a recommended image
Upload from your computer
Search for Google images
Select a recommended image
Upload from your computer
Search for Google images
Select a recommended image
Upload from your computer

Email Sent
We have sent an email to your address "" with instructions to reset your password.