Under the Modified Accrual Basis of Accounting, Derived Nonexchange Revenues

question 57

Multiple Choice

Under the modified accrual basis of accounting, derived nonexchange revenues are recognized when

• A)they are earned.
• B)they are measurable and available to finance the expenditures of the current period.
• C)the underlying exchange transaction occurs.
• D)the underlying exchange transaction occurs and they are measurable and available to finance the expenditures of the current period.

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