Which of the Following Is True Regarding Modified Accrual Accounting

question 63

Multiple Choice

Which of the following is true regarding modified accrual accounting?

• A) Revenues are recognized when measurable and available to finance expenditures of the current period.
• B) Expenditures are generally recognized as the related goods or services are received.
• C) Both a and b above.
• D) None of the above.

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