Government and Fiduciary Fund Statements Use the Modified Accrual Basis

question 95

True/False

Government and Fiduciary fund statements use the modified accrual basis, while government-wide, and proprietary funds use accrual basis.

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Definitions:

Fair Adjustment

A reasonable modification or change made to rectify or balance a situation.

Straightforward Statement

A clear and unambiguous expression or declaration that is easy to understand and interpret.

Direct Approach

A straightforward method of communication or problem-solving that involves dealing with issues openly and explicitly.

Positive Messages

Communications that convey good news, affirmative updates, or positive feedback, often used to build morale or reinforce good behavior.