Under the modified accrual basis of accounting, revenues are recognized in the accounting period in which the taxpayer's liability to the government arises.

Name: Under the modified accrual basis of accounting, revenues are recognized in the accounting period in which the taxpayer's liability to the government arises.
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Under the modified accrual basis of accounting, revenues are recognized when they are both measurable and available, not necessarily when the taxpayer's liability arises.

Under the Modified Accrual Basis of Accounting, Revenues Are Recognized