Merchandise with a sales price of $1,800 is sold on account with terms 2/10, n/30. The journal entry to record the sale would include a

Under accrual-basis accounting

A. cash must be received before revenue is recognized B. net income is calculated by matching cash outflows against cash inflows C. events that change a company's financial statements are recognized in the period they occur rather than in the period in which cash is paid or received D. The ledger accounts must be adjusted to reflect a cash basis of accounting before financial statements are prepared under generally accepted accounting principles

A patched-up prototype is likely to be:

A) controversial. B) inefficient. C) nonworking. D) standardized.