As Used in Defining the Modified Accrual Basis of Accounting

question 2

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 after 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.

---

Definitions:

Launching

The act of officially starting or introducing a new product, service, or business to the market.

Probabilities

An assessment of an event's probability, denoted by a figure that falls between 0 and 1.

Revenues

The aggregate income derived from the trade of goods or provision of services, constituting the core business of a corporation.

Simplified Version

An easier or less complex form of something, often used to aid understanding or analysis.