Discussion:Accrual Basis

From TaxAlmanac, A Free Online Resource for Tax Professionals
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.

From TaxAlmanac

Jump to: navigation, search

Discussion Forum Index --> Accounting Questions --> Accrual Basis

Wenoslow (talk|edits) said:

29 September 2007
Hi All,

My name is Wenoslow and this is my first time at this site. I do have a couple of questions that I have already answered, just not too sure.

1. The accrual basis of accounting: 

   a.  Is generally accepted for external reporting because it is           
       more use for most business decisions.
   b.  Is flawed because it gives complete information about cash flows.
   c.  Recognizes revenues when received in cash.
   d.  Recognizes expenses when paid in cash.
   e.  Eliminates the need for adjusting entries at the end of each period.

My answer is (A)

DZCPA (talk|edits) said:

29 September 2007
You are on the wrong internet site. You need to go to "imdoingmyhomeworkforaccountingclassandneedhelpwithsomequestions.com"

CrowJD (talk|edits) said:

29 September 2007
Priceless, DZ.

Uncle Sam (talk|edits) said:

29 September 2007
DZ-

That's the best answer that can be given.

Uncle Sam (talk|edits) said:

29 September 2007
Come to think of it - maybe Tim Doyle -while he's toying with his templates - can open up another website by that name.

To join in on this discussion, you must first log in.
Retrieved from "http://www.taxalmanac.org/index.php/Discussion:Accrual_Basis"