Which of the following is not a characteristic of modified accrual accounting? O

Question

Which of the following is not a characteristic of modified accrual accounting? Oa Revenues are recognized when they are measurable and available. O b. Long term assets do not appear in financial reports. O C. Expenditures occur as soon as the government becomes legally obligated to pay for a resource o d. The relevant time frame is the fiscal year plus 120 days. QUESTION 8 4 points Common size ratios 0 a. always have total assets in the denominator. B. enable us to compare organizations of common size C. are useful in comparing across organizations but are less for comparinig over time. For that we use serial ratios. d.compare all numbers on a financial statement relative to one key number. QUESTION 9 4 points Which of the following is not used to estimate the solvency of the government? ?a. Debt service/Total Property Tax Revenues D. Debt service/total Revenues O C. Total Debt/Population O d. Debt reported in Governmental Funds/total debt of the government

Explanation / Answer

7)Option D as rest of the options are related to revenue and expense recognition
8)Option D
9)Option D since always solvency is caluclated in the relative terms

Related Questions

Navigate

• Browse (All)
• Browse W
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.