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  3. the "accrual concept" is used in the income statem

The "accrual concept" is used in the Income Statement to report expenses only revenues only...

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Question

Accounting

The "accrual concept" is used in the Income Statement to report
expenses only
revenues only
C
"sales when they are legally earned" and "expenses when they were actually
consumed" no matter when the actual cash changes hands
"revenues when the cash is actually received" and "expenses when they are
legally paid for" no matter when they were legally incurred

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