Which statement is true concerning the accrual basis of accounting? Revenues are recognized when earned...
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Accounting
Which statement is true concerning the accrual basis of accounting? Revenues are recognized when earned and expenses are recognized when incurred. Revenues are recognized when earned and expenses are recognized when paid. Revenues are recognized when received from customers and expenses are recognized when paid. Revenues are recognized when received from customers and expenses are recognized when incurred. 
Which statement is true concerning the accrual basis of accounting?
Revenues are recognized when earned and expenses are recognized when incurred.
Revenues are recognized when earned and expenses are recognized when paid.
Revenues are recognized when received from customers and expenses are recognized when paid.
Revenues are recognized when received from customers and expenses are recognized when incurred.
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