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:

Mammary Lobules

Glandular structures in the breast that produce milk during lactation, organized into larger units called lobes.

Breast

A complex tissue comprising mammary glands, fat, and connective tissue, functioning in milk production for offspring nourishment in mammalian females.

Hypothalamus

In vertebrates, part of the brain that helps regulate the internal environment of the body—for example, heart rate, body temperature, and water balance.

Estrogen

Female sex hormone that helps maintain sexual organs and secondary sex characteristics.