FASAB Requires Nonexchange Revenues to Reported on Both the Accrual

question 26

True/False

FASAB requires nonexchange revenues to reported on both the accrual and the cash basis of accounting.

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Definitions:

Assumption

A premise or statement taken to be true without evidence for the sake of argument or investigation.

UI

Universal Instantiation, a logical rule of inference stating if something is true for everything in a category, it is true for any specific instance of that category.

Quantifier-Negation Rule

A principle in formal logic that deals with the relationship between quantifiers and the negation of statements.

Quantifier

A symbol or word in logic that specifies the quantity of specimens in the domain of discourse that satisfy an open formula.