The cash basis of accounting is acceptable primarily in enterprises that do not have substantial credit transactions or inventories.
a) true
b) false

Question

04-01-2021
Business

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The cash basis of accounting is acceptable primarily in enterprises that do not have substantial credit transactions or inventories.
a) true
b) false

Sagot :

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Zviko Zviko · Answer 1 · 2021-01-04T19:15:44-05:00

Zviko Zviko

04-01-2021

Answer:

a) true

Explanation:

Cash basis of accounting is the recognition of transactions when the cash is paid or received not when they occur or incur. When an entity does not have substantial credit transactions or inventories it is convenient for them to use the cash basis since these credit transactions do not happen frequently.

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