Answer:
b The accrual basis records revenues when services or products are delivered and records expenses when incurred; AND -
d. The cash bases records revenues when cash is received and records expenses when cash is paid
Explanation:
Accrual basis of accounting states that transactions are recorded based on when they are entered into, irrespective of the cash exchange done or not. Revenues are recognised when buyer's liability to pay has been established, expenses are recorded when our liability to pay has been established. Debtors & Creditors, outstanding & prepaid expenses, accrued & prepaid income are all implications of this basis.
Cash basis of Accounting states that transactions are recorded based on when cash exchange has occurred. 'Liability to pay' or 'obligation to receive' have no relevance in this, it is only evaluated on the basis of cash transactions. 4 implications given in accrual basis are also inapplicable here.
Accrual basis is the more generally accepted one than cash basis, as it gives a true picture of enterprise performance in an accounting period.