If a Federal Agency Should Have Collected $400 from a Nonexchange

question 1

Multiple Choice

If a federal agency should have collected $400 from a nonexchange revenue source, but it actually collected $430, the financial statements should reflect

• A)$400 cash collections plus $30 accrual adjustment.
• B)$430 total revenue.
• C)$430 cash collections less $30 accrual adjustment.
• D)$400 revenue.

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Definitions:

Power

The ability or capacity to do something or act in a particular way, often involving the control over resources or people.

Negative Emotions

Feelings that are generally considered to be displeasing or unfavorable, such as sadness, anger, fear, and guilt, which can impact mental and physical well-being.

Bad News

Information that is unwelcome, unpleasant, or disappointing.

Duration

The length of time that something continues or exists.