AccountingBLOCK - Accounting Forums

Using accrual accounting, expenses are recorded and reported only when they are incurred, whether or not cash is paid ? when they are incurred and paid at the same time ? if they are paid before they are incurred ? if they are paid after they are incurred ?

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Sean

In accrual accounting, expenses are recognized when they are incurred, whether or not cash is paid.

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Zahid H. Lilani