Under the Modified Accrual Basis of Accounting, Expenditures Generally Are

question 17

Multiple Choice

Under the modified accrual basis of accounting, expenditures generally are not recognized until:

• A) They are paid in cash.
• B) An obligation is incurred that will be paid from currently available financial resources.
• C) Goods or services are ordered.
• D) They are approved by the legislative body.

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Definitions:

Broad Valley

A wide and often flat trough between mountains or hills, typically having a river or stream running along it.

Braided Stream

A stream or river with an interconnecting network of branching and reuniting shallow channels.

Constant Flow

A steady, uniform rate of movement or supply.

Meander Scars

Erosional features left in the landscape by the remnants of ancient river meanders.