The Basis of Accounting Under Which Revenues Are Recognized When

question 32

True/False

The basis of accounting under which revenues are recognized when measurable and available for spending and expenses when resources are consumed is the modified accrual basis of accounting.

---

Definitions:

Standard Score

A score that has been transformed to fit a normal distribution, usually with a mean of 100 and a standard deviation of 15.

National Mean

The average score or value derived from a specific set of data collected across a nation.

Standard Deviation

The statistical metric that calculates the dispersion or spread of data points in a dataset around the average value.

Raw Score

An untreated score before manipulation or processing to make it a standard score, as must be done for all norm-referenced tests. Raw scores alone tell us little, if anything, about how a person has done on a test. We must take an individual’s raw score and do something to it to give it meaning.