ADM 1340 Chapter Notes - Chapter 4: Financial Statement, Trial Balance, Retained Earnings
27 views7 pages
19 Apr 2016
School
Department
Course
Professor
Get access
Grade+
$40 USD/m
Billed monthly
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
10 Verified Answers
Class+
$30 USD/m
Billed monthly
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
7 Verified Answers
Related Documents
Related Questions
Under accrual-basis accounting
A. | events that change a company's financial statements arerecognized in the period they occur rather than in the period inwhich cash is paid or received. | |
B. | net income is calculated by matching cash outflows against cashinflows. | |
C. | the ledger accounts must be adjusted to reflect a cash basis ofaccounting before financial statements are prepared under generallyaccepted accounting principles. | |
D. | cash must be received before revenue is recognized. |