A prepaid expense occurs when a company pays in advance for a service or goods for which the benefit extends beyond the current accounting period True False

Under the cash basis of accounting, no adjustments are made for prepaid, unearned, and accrued items.  True False

Face recognition extends beyond detecting the presence of a human face to determine whose face it isTRUEFALSE

It is an accounting of the flow of goods, services and funds in and out of the country during a given period.

The type of unemployment that occurs when a worker is laid off due to insufficient demand for goods and services is known as unemployment. (Enter one word)

. According to the cash basis of accounting, state the date as to when revenue must berecognised when goods are sold on 30 April and paid for on 31 May.