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olga_2 [115]
4 years ago
13

Accrual basis accounting recognizes _______ (equity/revenues/expenses) when the service or product is delivered and records ____

__ (revenues/expenses/liabilities) when _______ (incurred/paid) in order to adhere to the matching principle.
Social Studies
1 answer:
Nana76 [90]4 years ago
8 0

Answer:

Revenues; expenses; incurred

Explanation:

Accrual basis accounting recognizes revenues when the service or product is delivered and records expenses when incurred in order to adhere to the matching principle.

This form of accounting doesn’t necessarily have to wait till payment is received or made before the transaction is being recorded.

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