Which of the following is consistent with the accrual basis of accounting?
A. Revenue is recognized when cash is received from customers.
B. Expenses are recorded when cash is paid to suppliers.
C. Revenue is recognized when goods are delivered to customers, regardless of when cash is received.
D. Expenses are recorded when goods are purchased from suppliers, regardless of when cash is paid.
E. Accrual basis accounting recognizes business revenue and matching expenses when they are generated and not when money actually changes hands
1
A, B, D, E only
2
A, C, E only
3
C and E only
4
B, D, E only