Asked by Ashley
                If a business pays its expenses immediately can they still be accrual basis?
            
            
        Answers
                    Answered by
            Ms. Sue
            
    Apparently, yes.
http://www.investorwords.com/61/accrual_basis_accounting.html
    
http://www.investorwords.com/61/accrual_basis_accounting.html
                    Answered by
            Ashley
            
    Thanks Ms. Sue. Your help is much appreciated. 
    
                    Answered by
            Ms. Sue
            
    You're very welcome, Ashley.
    
                    Answered by
            Ashley
            
    Would you happen to know Classify the following adjusting entries as involving prepaid expenses (PE), unearned revenues (UR),
accrued expenses (AE), or accrued revenues (AR).
a. To record revenue earned that was previously received as cash in advance.
b. To record annual depreciation expense.
c. To record wages expense incurred but not yet paid (nor recorded).
d. To record revenue earned but not yet billed (nor recorded).
e. To record expiration of prepaid insurance
    
accrued expenses (AE), or accrued revenues (AR).
a. To record revenue earned that was previously received as cash in advance.
b. To record annual depreciation expense.
c. To record wages expense incurred but not yet paid (nor recorded).
d. To record revenue earned but not yet billed (nor recorded).
e. To record expiration of prepaid insurance
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