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If accounts receivable have increased during the period,

A) revenues on an accrual basis are less than revenues on a cash basis.

B) revenues on an accrual basis are greater than revenues on a cash basis.

C) revenues on an accrual basis are the same as revenues on a cash basis.

D) expenses on an accrual basis are greater than expenses on a cash basis.

 

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Joshua Stredder
Joshua StredderLv10
1 Feb 2021
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Related questions

Which of the following is not a characteristic of the accrual basis of accounting?

a. Revenues and expenses are reported in the period in which cash is received or paid

b. Revenues are reported in the income statement in the period in which they are earned

c. Supports the matching concept

d. All are correct.

 

 

Under the modified accrual basis of accounting used by the general fund, revenues should be recognized in the period in which:

A. Cash is collected

B. Amounts are earned

C. Amounts are received

D. Amounts are available and measurable

Which of the following statements is true?

Select one:

a. The Balance Sheet is prepared on the accrual basis and theIncome Statement and Cash Flow Statement are prepared on the cashbasis.

b. The Balance Sheet and Income Statement are prepared on theaccrual basis and the Cash Flow Statement is prepared on the cashbasis.

c. The Income Statement is prepared on the accrual basis and theBalance Sheet and Cash Flow Statement are prepared on the cashbasis.

d. All three statements are prepared on the accrual basis.

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