The income statement presents cash revenues, cash expenses, net ...

[soccerdreamer_17]

The income statement presents cash revenues, cash expenses, net income, and earnings per share for an accounting period.
 
  Indicate whether the statement is true or false

Question 2

The _______________ requires that revenue is recorded when it is received in cash and expenses are recorded when they are paid in cash.
 a. accrual basis of accounting
   b. cash basis of accounting
   c. hybrid basis of accounting
   d. GAAP basis of accounting

[karmakat49]

Answer to Question 1

F

Answer to Question 2

b

[soccerdreamer_17]

Excellent

[aliotak]

Thanks for the timely response, appreciate it