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Which of the following is NOT a basic principle of accounting? a) Accrual basis (recognizing revenue when earned and expenses when incurred) b) Cash basis (recognizing revenue when received and expenses when paid) c) Double entry bookkeeping (recording every transaction twice) d) Triple - entry bookkeeping (There's no such thing as triple-entry bookkeeping) ? ? ? ?

Which of the following is NOT a basic principle of accounting? a) Accrual basis (recognizing revenue when earned and expenses when incurred) b) Cash basis (recognizing revenue when received and expenses when paid) c) Double entry bookkeeping (recording every transaction twice) d) Triple - entry bookkeeping (There's no such thing as triple-entry bookkeeping) ? ? ? ?

Understanding Business
Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Which of the following is NOT a basic principle of accounting? a) Accrual basis (recognizing revenue when earned and expenses when incurred) b) Cash basis (recognizing revenue when received and expenses when paid) c) Double entry bookkeeping (recording every transaction twice) d) Triple - entry bookkeeping (There's no such thing as triple-entry bookkeeping) ? ? ? ?
Transcribed Image Text:Which of the following is NOT a basic principle of accounting? a) Accrual basis (recognizing revenue when earned and expenses when incurred) b) Cash basis (recognizing revenue when received and expenses when paid) c) Double entry bookkeeping (recording every transaction twice) d) Triple - entry bookkeeping (There's no such thing as triple-entry bookkeeping) ? ? ? ?
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