What Basis of Accounting Would the Enterprise Fund Use

question 93

Multiple Choice

What basis of accounting would the Enterprise Fund use?

• A) Accrual
• B) Modified Accrual
• C) Cash
• D) Expended Accrual

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Definitions:

Share the Loss

A principle or agreement among parties to divide financial losses incurred from a venture, investment, or project among themselves.

RUPA

The Revised Uniform Partnership Act, legislation adopted by many states in the United States to govern the operation of partnerships.

Recognizes

To formally acknowledge or take notice of something, often legally or officially.

Partnership

A lawful business structure involving two or more people who divide both management responsibilities and earnings.