Which of the following is not true？______.A．GAAP requires that businesses use accrual-basi

Which of the following is not true？______.

A．GAAP requires that businesses use accrual-basis accounting.

B．In accrual-basis accounting, when the business performs a service, makes a sale, or incurs an expense, the accountant should record the transaction, whether or not cash has been received or paid.

C．In cash-basis accounting, cash receipts are treated as revenues and cash payments are handled as expenses.

D．Accrual-basis accounting records only noncash transactions such as sales on account, depreciation expense, accrual of interest and other expenses incurred but not yet paid.