If a project's payback period is greater than the maximum acceptable payback period, we would accept it.
Indicate whether the statement is true or false
Question 2
Which of the following is true of cash basis accounting?
A) All credit sales will be recorded as revenue.
B) Revenue is recognized when a customer pays cash.
C) Expenses are recognized when they are incurred.
D) Accounts receivable and accounts payable can never be zero.
