Under accrual basis accounting, revenue is recorded when cash is received. T or F
False
Adjusting entries either credit a revenue or debit an expense account. T or F
True
GAAP require the usage of accrual basis accounting. T or F
True
Which of the following accounting elements does the matching principle help to match?
A.) revenues and liabilities
B.) expenses and liabilities
C.) expenses and assets
D.) expenses and revenues
D.) expenses and revenues