QUESTION 30 1 points Under GAAP, revenues are recognized when they are earned and expenses are accounted for when they a

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Question 30 1 Points Under Gaap Revenues Are Recognized When They Are Earned And Expenses Are Accounted For When They A 1 (40.13 KiB) Viewed 14 times

QUESTION 30 1 points Under GAAP, revenues are recognized when they are earned and expenses are accounted for when they are incurred, even though cash inflows or outflows may not have occurred. This type of accounting is called. accounting. money basis ex post basis accrual basis cash basis QUESTION 31 1 points Save Answer Net Income can either be paid to the owners in the form of or retained in the company to be invested. interests coupon payments dividends salaries Save Answer