As Used in Defining the Modified Accrual Basis of Accounting

question 2

Multiple Choice

As used in defining the modified accrual basis of accounting, the term "available" means

• A)received in cash.
• B)will be received in cash within 60 days after year-end.
• C)collection in cash is reasonably assured.
• D)collected within the current period or expected to be collected soon enough thereafter to be used to pay liabilities of the current period.

---

Definitions:

Comparative Advantage

An economic theory that suggests a country should produce and export goods in which it has a lower opportunity cost than other countries.

Temporary Advantage

An advantage or benefit that an organization holds for a short period of time, often due to a unique product, service, or situation.

Knowledge Dissemination

The process of spreading information and insights across different stakeholders, including individuals, organizations, and communities, to enhance understanding and application.