Assertion: cash | /r/HasProperty | exchanged
Facets:
Source sentences:
text: Basis Cash Basis of Accounting Accrual Basis of Accounting Ease of use Simple, straightforward and easy to use An intricate but widely used system Meaning Revenues and expenses are recorded when cash is exchanged Revenues and expense are recorded at the point of purchase or sale Credit accounts
text: Under cash accounting, revenues and expenses are recorded at the time that cash is exchanged.