Regarding accrual accounting

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Reference no: EM131262461

Which of the following statements is FALSE regarding accrual accounting?

Revenues are recorded when earned, regardless if the cash is received or not.

Expenses are recorded when they are incurred, regardless whether or not the cash is paid

Revenue is only recorded when it is earned and the cash is received.

Revenue is recorded if it has been earned, but not yet billed.

Reference no: EM131262461

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