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  3. Study Set
    Accounting for Governmental Study Set 1
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    Exam 4: Accounting for Governmental Operating Activities-Illustrative Transactions and Financial Statements
  5. Question
    Under the Modified Accrual Basis of Accounting Applicable to Governmental
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Under the Modified Accrual Basis of Accounting Applicable to Governmental

Question 37

Question 37

True/False

Under the modified accrual basis of accounting applicable to governmental fund types,revenue from sources such as fines and forfeits is accrued and recorded at net realizable value.

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