As Used in Defining the Term 'Modified Accrual Basis of Accounting

question 7

Multiple Choice

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

• A)received in cash.
• B)will be received in cash within 60 days of 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.

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Definitions:

Balanced Scorecard

A strategic planning and management system used for aligning business activities to the vision and strategy of the organization, improving internal and external communications, and monitoring organizational performance against strategic goals.

Inspection Time

The amount of time dedicated to examining and verifying the quality of products or materials.

Value-Added

The enhancement a company gives its product or service before offering the product to customers, adding value beyond the cost of the raw materials.

Balanced Scorecard

A strategic planning and management system used by organizations to communicate what they are trying to accomplish and measure the performance against strategic goals.