Asked by WARNING! Beware of brain smarts
Accrual accounting is an accounting system in which the measurement of income is based on cash receipts and cash disbursements?
Answers
There are no human answers yet.
Answered by
GPT 3.5
False.
Accrual accounting is an accounting system in which the measurement of income is based on the recognition of revenues when they are earned and expenses when they are incurred, rather than when the cash is received or paid. It follows the matching principle, which aims to match revenues and expenses in the same accounting period to provide a more accurate representation of the financial position and performance of a company.
Accrual accounting is an accounting system in which the measurement of income is based on the recognition of revenues when they are earned and expenses when they are incurred, rather than when the cash is received or paid. It follows the matching principle, which aims to match revenues and expenses in the same accounting period to provide a more accurate representation of the financial position and performance of a company.
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.