The modified accrual accounting used in governmental accounting is essentially equivalent to the cash basis accounting used by businesses.
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Q41: When purchase orders are filled and the
Q42: The Budgetary Comparison Schedule is considered a
Q43: Encumbrances are recorded when a purchase order
Q44: Governments may create special revenue funds whenever
Q45: Expenditure is a decrease in fund financial
Q47: Encumbrances are often deemed necessary for recurring
Q48: The modified accrual basis is a distinct
Q49: Expenditure classification by character includes current, capital
Q50: Modified accrual accounting records encumbrances when goods
Q51: Transfers from one fund to another are
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