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5. The collection of an Account Receivable is recognized as income on the ______ basis of accounting. (5 pts)
- Cash
- Accrual
- Both Cash and Accrual
- Neither Cash or Accrual
6. A sale that generates an Account Receivable is recognized as income on the ______ basis of accounting. (5 pts)
- Cash
- Accrual
- Both Cash and Accrual
- Neither Cash or Accrual
7. Would you generally expect the account Sales to carry a debit or a credit balance? (5 pts)
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