which of the following is not a characteristic of the accrual basis of accounting?\na revenues are reported…

which of the following is not a characteristic of the accrual basis of accounting?\na revenues are reported on the income statement in the period in which they are earned.\nb revenues and expenses are reported in the period in which cash is received or paid.\nc the accrual basis of accounting follows the matching concept.\nd expenses are reported in the same period as the related revenues.

which of the following is not a characteristic of the accrual basis of accounting?\na revenues are reported on the income statement in the period in which they are earned.\nb revenues and expenses are reported in the period in which cash is received or paid.\nc the accrual basis of accounting follows the matching concept.\nd expenses are reported in the same period as the related revenues.

Answer

Brief Explanations:

Under the accrual - basis of accounting, revenues are recognized when earned and expenses when incurred, not when cash is received or paid. Option B describes the cash - basis of accounting. Options A, C, and D are characteristics of the accrual - basis.

Answer:

B. Revenues and expenses are reported in the period in which cash is received or paid.