Green Company incurred $5,000 of accrued expenses during Year 1, but paid the cash associated with the payables in Year 2. Based on this information alone, under accrual accounting, the company would report a
a) Net loss of $5,000 and cash outflow from operations of zero in Year 2.
b) Net loss of zero and cash outflow from operations of $5,000 in Year 1.
c) Net loss of $5,000 and cash outflow from operations of zero in Year 1.
d) Net loss of zero and cash outflow from operations of $5,000 in Year 2.