Which of the Following Statements Is not true Regarding Modified

question 24

Multiple Choice

Which of the following statements is not true regarding modified accrual accounting?

• A) Expenditures and fund liabilities are recorded when goods and services are received.
• B) Debt service expenditures for principal and interest are accrued.
• C) Expenditures for claims and judgments and landfill post-closure care costs of governmental funds should be recognized to the extent that the liabilities are going to be paid with available resources.
• D) Compensated absences and special termination benefits of governmental funds that will not be paid with available resources should be reported as liabilities in the government-wide statements.

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Definitions:

Dwight Eisenhower

The 34th President of the United States, a five-star general during World War II, and a key figure in American mid-20th century politics.

Little Rock

Refers to the Little Rock Nine incident in 1957, where African American students were integrated into Little Rock Central High School amid racial tensions.

Black Students

Individuals of African descent who are enrolled in educational institutions, highlighting discussions around their academic achievements, challenges, and the educational policies affecting them.

Thirteenth Amendment

An amendment to the United States Constitution that abolished slavery and involuntary servitude, except as punishment for a crime.