FeedbackCorrect. The accrual basis of accounting seeks to match effort and accomplishment by matching expenses against the revenues they created.The correct answer is 'True'.(T / F) When companies offer trade discounts, the gross selling price (gross invoice price) at which the sale
is recorded is equal to the list price minus any trade discounts.
Question 2Question text(T / F) Sales discounts arise when the seller offers the buyer a cash discount of 1 percent to 3 percent to induce early payment of an amount due.