Under modified accrual accounting, revenues should be recognized when they are
A) Collected.
B) Realizable and estimable.
C) Reasonably estimable.
D) Measurable and available to be used.
E) Earned and collected.

Question

Quizplus · Accepted Answer

Under modified accrual accounting, revenues are recognized when they are both measurable and available to finance expenditures of the current period.

Under Modified Accrual Accounting, Revenues Should Be Recognized When They