Under the modified cash basis of accounting, adjustments are made ...

[NguyenJ]

Under the modified cash basis of accounting, adjustments are made only for prepaid items and depreciation on plant and equipment.
 a. True
   b. False
   Indicate whether the statement is true or false

Question 2

Proprietary fund net position must be reported in which three elements?
 
  a. nonexpendable, restricted, and unrestricted
  b. net investment in capital assets, restricted, and unrestricted
  c. restricted, committed and unrestricted
  d. additional- paid-in-capital, restricted, and unrestricted
  e. restricted, committed, assigned

[amit]

Answer to Question 1

True

Answer to Question 2

b