45. 45. Don\'t be accrua..Accrual basis accounting requires: a. recording revenu

Question

45.

45. Don't be accrua..Accrual basis accounting requires: a. recording revenues when earned and realized, and expenses in the same period, b. recording revenues when earned and when cash is received, and expenses when c. recording revenues when cash is received and expenses when incurred. after the related revenue has been recorded. cash is paid. recording revenues and the related expenses in different periods d. e. Recording expenses first and than matching the related revenues to these expenses.

Explanation / Answer

Accrual basis accounting requires recording revenues when earned and realized, and expenses in the same period after the related revenue has been recorded Option A is correct

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