Which Fund Category Must Change from Modified Accrual to Accrual

question 131

Multiple Choice

Which fund category must change from modified accrual to accrual basis when preparing government-wide financial statements?

• A) Governmental
• B) Proprietary
• C) Fiduciary
• D) A & B only

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Definitions:

Ordering Quantity

If this term refers to "Economic Order Quantity," it is a decision tool used in supply chain management to determine the optimal order size that minimizes total inventory costs.

Inventory Value

Inventory Value is the total cost associated with the goods and materials held by a company to produce or sell for profit.

Clothiers

Businesses or individuals specializing in the selling of clothing.

Discount

A discount represents a reduction from the full price or value of goods, services, financial instruments, or the present value of future cash flows.