At the time the transaction occurred, which of the following would result in an increase in net income under the accrual basis of accounting, but would not result in an increase in net income under cash basis accounting? O a. receipt of cash for services that were performed earlier on account O b. use of supplies purchased earlier O C. purchase of supplies for cash O d. performance of services on account

At the time the transaction occurred, which of the following would result in an increase in net income under the accrual basis of accounting, but would not result in an increase in net income under cash basis accounting? O a. receipt of cash for services that were performed earlier on account O b. use of supplies purchased earlier O C. purchase of supplies for cash O d. performance of services on account

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter16: Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: Which of these transactions would not be part of the cash flows from the operating activities...

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