Which of the following statements is/are correct regarding the accrual basis of accounting? I. The method of accounting take in the real and gross value of revenue. II. It show dismal profit and loss of company. Select the correct answers using the codes given below.

Which of the following statements is/are correct regarding the accrual

1.	Which of the following statements is/are correct regarding the accrual basis of accounting? I. The method of accounting take in the real and gross value of revenue. II. It show dismal profit and loss of company. Select the correct answers using the codes given below.
A.	Only I
B.	Only II
C.	I and II
D.	Neither I nor II
Answer» B. Only II

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Which of the following statements is/are correct regarding the accrual basis of accounting? I. The method of accounting take in the real and gross value of revenue. II. It show dismal profit and loss of company. Select the correct answers using the codes given below.

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