Under Modified Accrual Accounting,when Should an Expenditure to Recognize Interest

question 32

Multiple Choice

Under modified accrual accounting,when should an expenditure to recognize interest on long-term debt be recorded?

• A)at the end of each accounting period.
• B)when payment is due within one fiscal year.
• C)when payment is due.
• D)when cash is available to pay the interest.
• E)when the interest is incurred.

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