1. Under the accrual basis of accounting:

a) ?events that change a company's financial statements are recognized in the period they occur rather than in the period in which cash is paid or received. ?

b) net income is calculated by matching cash outflows against cash inflows.

c) ?the ledger accounts must be adjusted to reflect a cash basis of accounting before financial statements are prepared under generally accepted accounting principles. ?

d) cash must be received before revenue is recognized.

2. ?International Financial Reporting Standards (IFRS):

a) ?requires that receivables with different characteristics should be reported as one un-segregated amount.

?b) requires that receivables with different characteristics should be reported separately.

?c) implies that receivables with different characteristics should be reported as one un-segregated amount.

?d) implies that receivables with different characteristics should be reported separately.