Question

financial statements are based on​

Answer 1

Answer:

Generally, external financial statements are prepared on the accrual basis of accounting, which means that assets and liabilities are recorded when they are committed to, and revenue and expenses are recorded when they are incurred (rather than when they are actually paid).

Explanation:

this is your answer please mark me brainlliest and ask for help

Answer 2

Answer:

accrual basis will be the answer hope it will help u