Accounting for revenue using the cash basis of accounting means that no entry is made to the revenue account until the cash is received. true or false.

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asked Apr 17, 2018 97.3k views

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EntropicFox · Answer 1 · 2018-04-23T08:36:45+0000

It is true that accounting for revenue using the cash basis of accounting means that no entry is made to the revenue account until the cash is received. When the cash basis is used, revenue is not recorded until the cash is actually received.

Accounting for revenue using the cash basis of accounting means that no entry is made to the revenue account until the cash is received. true or false.

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