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Question Practice

Which of the following best describes the treatment of accrued income under the accrual basis of accounting?

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MCQ_SA
CBSE
Class 11
Accountancy
Accountancy - II
Financial Statements - II
Question Bank

Which of the following best de...

Single Answer MCQ
Q-00053618

Which of the following best describes the treatment of accrued income under the accrual basis of accounting?

1

Income is recognized when cash is received.

2

Income is recognized when earned regardless of cash receipt.

3

Accrued income is ignored.

4

All accrued income needs to be billed immediately.

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