Author Question: The income statement presents cash revenues, cash expenses, net income, and earnings per share for ... (Read 119 times)

soccerdreamer_17 · **on:** Jul 6, 2018

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