Revenues,but not expense are recorded the same under accrual and modified accrual accounting.

Question

Quizplus · Accepted Answer

Under both accrual and modified accrual accounting, revenues and expenses are recorded differently. Accrual accounting recognizes revenues and expenses when they are earned or incurred, while modified accrual accounting recognizes revenues when they are available and measurable, and expenses when they are incurred.

Revenues,but Not Expense Are Recorded the Same Under Accrual and Modified