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The modified accrual basis is a distinct system of accounting that: Multiple Choice is equivalent to cash basis accounting. records expenditures and fund balances. differs
The modified accrual basis is a distinct system of accounting that:
Multiple Choice
is equivalent to cash basis accounting.
records expenditures and fund balances.
differs from accrual accounting only in its failure to recognize longterm assets
and liabilities.
records expenses and revenues the same as accrual accounting.
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