Which of the Following Is True Regarding Modified Accrual Accounting

question 71

Multiple Choice

Which of the following is true regarding modified accrual accounting?

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

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Definitions:

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