Question

Which of the following statements about cash basis accounting is true?
A.
It is more complicated than accrual basis accounting.
B.
The IRS allows all types of corporations to use it.
C.
It follows GAAP standards.
D.
It ensures the company always knows how much cash flow it has.

Answer 1

@AshtynThatDrummerGirl

Answer 2

I think it's C. It follows GAAP standards. but I could be wrong