Under which basis of accounting for a government should revenues be recognized in the period when they are measurable and available?
A) Accrual basis: No; Modified accrual basis: No
B) Accrual basis: Yes; Modified accrual basis: No
C) Accrual basis: Yes; Modified accrual basis: Yes
D) Accrual basis: No; Modified accrual basis: Yes

Question

Quizplus · Accepted Answer

Under the modified accrual basis of accounting, revenues are recognized when they are both measurable and available.

Under Which Basis of Accounting for a Government Should Revenues