The accrual-based income statement superior to a cash-based income statements in measuring profitability because It reports the expenses incurred in generating the revenues regardless of when the cash was paid.
What distinguishes the accrual basis of accounting from the cash basis of accounting?
When money is received or spent, it is recorded as revenue using the cash foundation of accounting. When using the accrual basis of accounting, revenues are recorded as they are earned and expenses as they are incurred.
What is an income statement with an accrual basis?
Accounting on an accrual system records revenue and corresponding costs as they are incurred, rather than when money is exchanged. Accordingly, businesses report revenue when it is earned rather than when it is received.
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The answer to this would be that it is a JOB LEAD
Answer:
The correct answer to the following question is option B) The government should use the contractionary fiscal policy to shift the aggregate demand to the left .
Explanation:
In the situation where inflation is rising at a fast speed in the economy, then government needs to use contractionary fiscal policy in which government will decrease their spending and increase the taxes in order to decrease the spending of people and the aggregate demand ,which will then ultimately lead to shift in the aggregate demand towards the left.
