Respuesta :
Answer:
Option C; ACCRUAL ACCOUNTING RECORDS REVENUE ONLY WHEN IT IS EARNED.
Explanation:
The main difference between accrual and cash basis accounting lies in the timing of when revenue and expenses are recognized.
Accrual accounting means revenue and expenses are recognized and recorded when they occur, while cash basis accounting means revenue and expenses aren't documented until cash exchanges hands.
Accrual accounting method records revenue when a product or service is delivered to a customer with the expectation that money will be paid in the future.
In accrual accounting method, revenue is accounted for when it is earned. Therefore, the option that best suits the question is option C; ACCRUAL ACCOUNTING RECORDS REVENUE ONLY WHEN IT IS EARNED.
The statement that has bee true about accounting has been that "accrual accounting records revenue when there has been earning of the revenue". Thus, option C is correct.
The accounting has been given as the recording and analysis financial transactions in a business. The accounting can be cash basis and accrual basis.
The accrual basis accounting has been given as the documentation with the analysis of the expenses and revenue. The cash basis accounting has been given as the documentation when there has been a cash exchange for the revenue and expenses.
The statement that has bee true about accounting has been that accrual accounting records revenue when there has been earning of the revenue. Thus, option C is correct.
For more information about accrual accounting, refer to the link:
https://brainly.com/question/14947252
