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Accruals. Select the correct answer

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Accruals. Select the correct answer

Accruals only affect expense accounts, never income accounts

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The aim of accruals is to recognize the expenses or the revenues, regardless of the date of collection or payment.

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Accruals are not compulsory. Each company decides whether to apply them or not.

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The aim of accruals is to comply with the prudence principle set forth in SGAP

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