题目
题目
简答题

Under the __________ basis of accounting, revenues are recognised when earned and expenses when incurred.  

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思路分析
The question asks: Under the __________ basis of accounting, revenues are recognised when earned and expenses when incurred. First, note that the prompt is seeking a fill-in-the-blank answer describing a specific basis of accounting. In accounting, there are two common ......Login to view full explanation

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Which of the following is true with respect to accrual accounting?

Schneider Incorporated had salaries payable of $60,900 and $91,000 at the beginning and end of the year, respectively. During the year, Schneider recorded $622,000 in salaries expense in its income statement. Cash outflows for salaries during the year were:

Molly's Auto Detailers maintains its records on the cash basis. During the year, Molly's collected $72,800 from customers and paid $20,100 in expenses. Depreciation expense of $3,900 would have been recorded on the accrual basis. Over the course of the year, accounts receivable increased $5,900, prepaid expenses decreased $1,700, and accrued liabilities decreased $1,200. Molly's accrual-basis net income was:

Which method will allow you to book lower expenses, over longer periods of time?

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