Modified Accrual Accounting Is Essentially the Same as Cash Basis

question 54

True/False

Modified accrual accounting is essentially the same as cash basis except that long term assets are not recorded.

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Definitions:

Net Present Value

An evaluation metric that analyzes the profitability of a projected investment by discounting future cash flows to their present value and subtracting the initial investment cost.

Project Rate of Return

The expected return on an investment, estimating the profitability of a project or investment.

Fund Utilization

The process of using allocated funds or resources efficiently for intended purposes.