Which
of the following situations would result in an increase in income
under the accrual method of accounting, but would NOT result in an
increase in income under the cash-basis method of accounting? ( )
A: Purchase
of supplies for cash
B: Use
of supplies purchased earlier
C: Performance
of services on account
D: Receipt of cash for services that were performed earlier on account
of the following situations would result in an increase in income
under the accrual method of accounting, but would NOT result in an
increase in income under the cash-basis method of accounting? ( )
A: Purchase
of supplies for cash
B: Use
of supplies purchased earlier
C: Performance
of services on account
D: Receipt of cash for services that were performed earlier on account
举一反三
- Which<br/>of the following situations would result in an increase in income<br/>under the accrual method of accounting, but would NOT result in an<br/>increase in income under the cash-basis method of accounting?(). A: Purchase of supplies for cash B: Performance of services on account C: Use of supplies purchased earlier D: Receipt of cash for services that were performed earlier on account
- Which of the following transactions would be recorded under accrual accounting but NOT under cash-basis accounting?
- The cash basis of accounting commonly results in financial statements<br/>that are less comparable from period to period than the accrual basis<br/>of accounting ____ A: True B: False
- Which<br/>of the following is NOT a true statement about the statement of cash<br/>flows?() A: It<br/>shows where cash came from and how it was spent. B: It<br/>reports why cash increased or decreased. C: It<br/>covers a specific span of time the same as the income statement. D: It<br/>shows how the profits or losses of the company were generated.
- Which of the following transactions would be recorded under accrual-basis accounting but NOT under cash-basis accounting? A: Borrowing money from the bank. B: Collecting cash from customers. C: Issuing stock for cash. D: Purchasing of inventory on account.