Under the Modified Accrual Basis of Accounting Used by Governments

question 72

Multiple Choice

Under the modified accrual basis of accounting used by governments, transactions that result in long-term liabilities

• A) are included on the fund statements as an expenditure.
• B) are included as a contra-account to revenue.
• C) are not recorded as expenditures.
• D) hidden for 10 years from the taxpayers.

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Definitions:

Democratic Groups

Groups that operate under the principle of democracy, where decisions are made collectively and each member has an equal vote or say.

Productive

Yielding positive results or benefits; effective in achieving intended outcomes.

Aggression

A range of behaviors that can result in both physical and psychological harm to oneself, others, or objects in the environment.

True Group

A collection of individuals who are interdependent in their tasks, have shared objectives, see themselves as a cohesive unit, and are recognized by others as a group.