Which of the Following Is True Regarding Modified Accrual Accounting

question 116

Multiple Choice

Which of the following is true regarding modified accrual accounting?

• A) Expenditures for claims and judgments, compensated absences, and special termination benefits should be recognized whether or not the liabilities are to be paid with available resources.
• B) Expenditures for services used by General Fund departments should be recognized when those services are received, regardless of whether or not resources are available in the fund.
• C) Both of the above are true.
• D) Neither of the above is true.

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Definitions:

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