Answer
D
Work Step by Step
Answer D is false because it describes the cash method of accounting, where companies recognize revenues and expenses only when cash is exchanged, not when incurred.
Accounting: Tools for Business Decision Making, 5th Edition
by Kimmel, Paul D.; Weygandt, Jerry J.; Kieso, Donald E.
Published by
Wiley
ISBN 10:
1118128168
ISBN 13:
978-1-11812-816-9
Chapter 4 - Accrual Accounting Concepts - Self-Test Questions - Page 199: 3
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