Purchase Orders and Contracts Result in What for Modified Accrual

question 96

Multiple Choice

Purchase orders and contracts result in what for modified accrual accounting and accrual accounting?
Modified Accrual Accrual

• A) Expenditure Liability
• B) Expenditure No entry
• C) Encumbrance Liability
• D) Encumbrance No entry

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Definitions:

Savings Rate

The proportion of disposable income that individuals or households save rather than spend.

Consumption

The use of goods and services by households, constituting one of the primary components of gross domestic product (GDP).

China

A country in East Asia, the world's most populous nation, with a long history, rich culture, and significant economic influence.

U.S.

Refers to the United States of America, a country in North America known for its significant influence on global politics, economy, and culture.