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Which of the Following Is True Regarding Modified Accrual Accounting

Question 116

Multiple Choice

Which of the following is true regarding modified accrual accounting?


A) Expenditures for claims and judgments, compensated absences, and special termination benefits should be recognized whether or not the liabilities are to be paid with available resources.
B) Expenditures for services used by General Fund departments should be recognized when those services are received, regardless of whether or not resources are available in the fund.
C) Both of the above are true.
D) Neither of the above is true.

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