As Used in Defining the Modified Accrual Basis of Accounting

question 45

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 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.