Multiple Choice
Which of the following statements regarding the accounting for investments in governmental funds is false?
A) Interest receivable should be accrued as it is earned.
B) Interest revenue should be recognized on a cash basis.
C) Interest revenue is accrued as it meets the availability criteria.
D) Decreases in the fair market value of equity securities with readily determinable fair values result in a decrease in investment income.
Correct Answer:
Verified
Correct Answer:
Verified
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