Which of the following statements is true of accrual

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Which of the following statements is true of accrual basisaccounting? A) Accrual basis accounting is allowed byGenerally Accepted Accounting Principles (GAAP). B)Accrual basis accounting records expenses only when cashhas been paid for them. C) Accrual basis accounting recordsrevenue only when cash is received. D) It always results ingreater net income than cash basis accounting. 5) Which of
the following would result in an increase in income under theaccrual method of accounting, but would not result in an
Purchase of supplies for cash B) Performance of services onaccount C) Use of supplies purchased earlier D) Receipt ofcash for services that were performed earlier on account 6)
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Term
Spring
Professor
lee
Tags
Accounting, Revenue, Generally Accepted Accounting Principles

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