If inflation increases substantially in Australia while U.S. inflation remains unchanged, this is expected to place pressure on the value of the Australian dollar with respect to the U.S. dollar. a. upward b. downward c. either upward or downward (depending on the degree of the increase in Australian inflation) d. none of the above; there will be no impact

C.when cash is received, either prior to, at the time of, or after the services are performed

Explanation:

Under the cash basis accounting, the revenue is recognized at the time when the cash is received. It can be at the time before the service performed or after the service is performed. It only involves cash transactions.

The cash basis of accounting reports the revenue earned and the expenses incurred that occurred in cash transactions only.