Answers
21) The accounting basis that records revenues when goods are services are provided to customers and expense with related to revenue referred as
So answer is b) matching basis
22) Under accrual basis of accounting revenues are recorded when services are performed not when cash is received
So answer is c) April 21
23) Under Cash basis of accounting revenues are recorded when Cash is received
So answer is b) April 12
24) Making insurance payments in advance is an example of an
So answer is d) Prepaid expenses
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