Accountıng I Deneme Sınavı Sorusu #1313660
Which of the followings is correct about cash basis accounting?
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Revenues are recorded when services are performed. |
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Revenues are recorded when expenses are incurred. |
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Expenses are recorded before the cash is paid. |
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Revenues are recorded when cash is received. |
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Expenses are recorded when they are incurred. |
Yanıt Açıklaması:
In cash basis accounting, companies record revenues when they receive the cash and they record expenses when the cash is paid.
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