Asked by ka ki cheng on Jun 17, 2024
Verified
To measure earnings under accrual accounting,revenue is recognized only when received.
Accrual Accounting
An accounting method that records revenues and expenses when they are incurred, regardless of when cash transactions occur.
- Comprehend the circumstances that allow for the recognition of revenue and distinguish between accrual basis and cash basis accounting.
Verified Answer
AU
Andrea UreñaJun 22, 2024
Final Answer :
False
Explanation :
Under accrual accounting, revenue is recognized when earned, regardless of when payment is received.
Learning Objectives
- Comprehend the circumstances that allow for the recognition of revenue and distinguish between accrual basis and cash basis accounting.
Related questions
In Order to Recognize Revenue,it Must Be Possible to Measure ...
Recognition of Revenue Under the Cash Basis Occurs When the ...
The Two Conditions for Revenue Recognition Are Occasionally Satisfied Even ...
Which of the Following Journal Entries Is Correct When a ...
In Accrual Accounting,accrued Revenues Are Recorded as Liabilities