If you receive a bill in december, and you pay it in january, where do you include it in your personal cash flow statement?

a. you include it as expenditure in january, because that s when you paid it.

b. you include it as expenditure in december, because that s when you received it.

c. you don t include it, because it is received in one year and paid in the following year.

d. you include it in both months, because you received it in one month, and paid it in the other.