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2.Which of the following outflows would be recorded the same way under both modified accrual and full accrual? (By the same, I mean that one
2.Which of the following outflows would be recorded the same way under both modified accrual and full accrual? (By the same, I mean that one would record the same amount as an expenditure that the other records as an expense.)
a | Payment of $1 million for a new building | |
b | Payment one week after the end of the fiscal year for salaries earned during that year. | |
c | Depreciation on a building | |
d | Payment of $1 million to pay principal on an outstanding long-term loan |
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