eWhats Hot e WildTangent Games Caloulator Which of the foll

eWhat\'s Hot, e) WildTangent Games .\" Caloulator Which of the following is not a characteristic of the accrual basis of accounting? Da. Revenues and expenses are reported in the period in which cash is received or paid. Ob. Revenues are reported on the income statement in the period in which they are earned. Os. The accrual basis of accounting supports the matching concept. Od. Expenses are reported in the same period as the revenues to which they relate. op

Solution

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

The accrual basis of accounting dictates that all revenues be recorded when they are earned instead of when the cash payment is received from customers.