Business, 11.03.2020 05:32 1KoKoNut

Under the accrual basis of accounting:.
a. cash must be received before revenue is recognized.
b. net income is calculated by matching cash outflows against cash inflows.
c. events that change a company's financial statements are recognized in the period they occur rather than in the period in which cash is paid or received.
d. the ledger accounts must be adjusted to reflect a cash basis of accounting before financial statements are prepared under generally accepted accounting principles.

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Under the accrual basis of accounting:.
a. cash must be received before revenue is recognized....

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