Using accrual accounting, expenses are recorded and reported only: when they are incurred whether or not cash is paid. when they are incurred and paid at the same time. if they are paid before they are incurred. if they are paid after they are incurred.

Question

Lucy Noble

Business

20 January, 19:08

Using accrual accounting, expenses are recorded and reported only: when they are incurred whether or not cash is paid. when they are incurred and paid at the same time. if they are paid before they are incurred. if they are paid after they are incurred.

+3

Answers (1)

Know the Answer?

Lucia Bartlett · Answer 1

When they are incurred, whether or not cash is paid.

This is different from the cash method of accounting which records transactions when things are sold for cash or expenses are paid in cash.