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Author Question: Under the modified accrual basis of accounting a. expenditures are recognized when paid in cash ... (Read 113 times)

JMatthes

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on: Jul 5, 2018
Under the modified accrual basis of accounting
 
  a. expenditures are recognized when paid in cash if not previously encumbered
  b. property tax revenues are recognized when earned
  c. property tax revenues are recognized when measurable and available
  d. encumbrances are equivalent to expenditures

Question 2

The sum of the debits must equal the sum of the credits on the trial balance.
 a. True
   b. False
   Indicate whether the statement is true or false


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krakiolit

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Reply #1 on: Jul 5, 2018
Answer to Question 1

c

Answer to Question 2

True


JMatthes

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Reply 2 on: Jul 5, 2018
Thanks for the timely response, appreciate it

Animal_Goddess

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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