Which of the Following Basis of Accounting Should Be Used

question 8

Multiple Choice

Which of the following basis of accounting should be used when preparing a budgetary comparison schedule for a government's General Fund?

• A)budgetary basis of accounting
• B)accrual basis of accounting
• C)modified accrual basis of accounting
• D)GASB recommends the accrual basis of accounting be used,but does not require it.

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Definitions:

Economic Forces

Factors such as inflation, exchange rates, economic growth, and governmental policy that affect the business environment and economic performance.

Domino's

A multinational pizza restaurant chain known for its wide variety of pizza options and fast delivery services.

Marketing Department

A division within a company that focuses on creating and implementing strategies to promote and sell products or services.

Environmental Forces

External factors like climate, ecological changes, and natural resources that affect an organization's operations and decision-making.