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
You might also like to view...
The clinical modification of the ICD-9 was developed by the:
A. World Health Organization (WHO). B. National Center for Health Statistics. C. U.S. Department of Health and Human Services. D. Centers for Medicare and Medicaid Services.
The _________ ________ carries oxygenated blood from the woman to the heart of the fetus.
Fill in the blank(s) with the appropriate word(s).