Under the Modified Accrual Basis, Revenues Are Considered Available to Finance

question 48

Multiple Choice

Under the modified accrual basis, revenues are considered available to finance current period expenditures if they are legally usable to finance expenditures of the period and

• A) Earned.
• B) Collected during the current period.
• C) Collected in the current period or soon enough thereafter to be used to pay liabilities of the current period.
• D) Objective measureable.

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Definitions:

Zygotes

are the initial cell formed when a new organism is produced by sexual reproduction, resulting from the fusion of male and female gametes.

Cognitive Development

The process of growth and change in intellectual capabilities, influencing a person's ability to learn, communicate, and understand.

Jean Piaget

A Swiss psychologist known for his pioneering work in child development, particularly his theory of cognitive development.

Reflex

An involuntary response, one that is not under personal control or choice.