Solved

Under the Modified Accrual Basis of Accounting,revenues Should Be Recognized

Question 64

Multiple Choice

Under the modified accrual basis of accounting,revenues should be recognized when they are:


A) authorized by the budget ordinance.
B) earned and measurable.
C) measurable and available to finance expenditures of the current period.
D) realized through collection.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q2: The FASAB has the authority to establish

Q5: FASAB, GASB and FASB standards are set

Q10: What are Enterprise funds used for?<br>A) To

Q60: Fiduciary funds include agency,pension trust,investment trust,and private-purpose

Q63: Financial reports for state and local governments

Q65: GASB standards contain all of the following

Q65: The Governmental Accounting Standards Board sets financial

Q67: A city government makes its semiannual payment

Q69: The _ Fund accounts for all resources

Q102: The GASB Concept Statement on Service Efforts