Post Utme Rsu 2018 Accounting Question 18

Practice objective / multiple choice question 18 from the 2018 Post Utme Rsu Accounting examination.

Post Utme Rsu 2018 Accounting Objective / Multiple Choice

Question 18 POST_UTME_RSU • 2018 • ACCOUNTING • objective

A company uses the 'Accrual Accounting' method to account for its revenues and expenses. What is the primary difference between this method and the 'Cash Accounting' method?

Correct Answer A. Accrual Accounting recognizes revenues and expenses when earned, while Cash Accounting recognizes them when received or paid

B. Accrual Accounting is more complex than Cash Accounting

C. Accrual Accounting is only used by large companies

D. Accrual Accounting is not allowed under IFRS

Correct Answer

Correct Option:

Accrual Accounting recognizes revenues and expenses when earned, while Cash Accounting recognizes them when received or paid

This is Post Utme Rsu 2018 Accounting Question 18. It is one of the objective questions from the 2018 Post Utme Rsu Accounting examination.

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