A person chooses to follow the accrual accounting approach in their personal finances. Which of the following transactions best demonstrates this process?
A. buying some clothing on credit - making and recording the monthly payments on the credit card until the full amount is paid off
B. ordering a new magazine subscription and choosing the option for them to bill you later - making and recording the payment when the bill is received in the mail
C. Both of the scenarios demonstrate an accrual accounting approach.
D. Neither of the scenarios demonstrate an accrual accounting approach.
Answer: D
Health Professions
You might also like to view...
Which paper form was designed for institutional claims?
What will be an ideal response?
Health Professions
Founded in 1971 to reduce and prevent work-related injuries, illness, and death, ____ is responsible for developing and enforcing various standards of safety in the workplace.
A. CDC B. APHA C. DHHS D. OSHA
Health Professions