If revenues are recognized only when a customer pays, what method of accounting is being used? Recognition basisAccrual-basisMatching basisCash-basisPeriodicity

The correct answer here is Cash basis.

Explanation:

One of the methods of recording accounting transactions for income and expenses is cash basis accounting, where the transactions are only recorded when income is received in cash or expenses are paid in cash. This accounting method is not accepted by GAAP (Generally accepted accounting principle) and IFRS (International financial reporting standards) because this method violates the income (revenue) and expense recognition principle.