14.The cash basis of accounting records revenues and expenses when the

14.The cash basis of accounting records revenues and expenses when the cash is exchanged, while the accrual basis of accountinga.records revenues and expenses when the company needs to apply for a loanb.records revenues when they are earned and expenses when they are paidc.records revenues when cash is received and expenses when they are incurredd.records revenues and expenses when they are incurred15.The unexpired insurance at the end of the fiscal period represents a(n)a.accrued liabilityb.accrued assetc.accrued expensed.deferred expense16.The account type and normal balance of Prepaid Expense would bea.asset, debitb.liability, creditc.expense, debitd.revenue, credit

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14.The cash basis of accounting records revenues and expenses when the

14.The cash basis of accounting records revenues and expenses when the cash is exchanged, while the accrual basis of accountinga.records revenues and expenses when the company needs to apply for a loanb.records revenues when they are earned and expenses when they are paidc.records revenues when cash is received and expenses when they are incurredd.records revenues and expenses when they are incurred15.The unexpired insurance at the end of the fiscal period represents a(n)a.accrued liabilityb.accrued assetc.accrued expensed.deferred expense16.The account type and normal balance of Prepaid Expense would bea.asset, debitb.liability, creditc.expense, debitd.revenue, credit

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