Question

Under the modified accrual basis of accounting, revenues cannot be recognized 1. Until cash has been collected 2. Unless they will be collected within 60 days of year‐end 3. Until they are subject to accrual 4. Until they are measurable and available

Answer 1

Answer:

4. Until they are measurable and available

Explanation:

The Modified accrual accounting is an alternative bookkeeping technique that combines the method of accrual basis accounting with that of cash basis accounting. It distinguish income when they happen to be available and measurable and with some other exceptions to records expenditures when liabilities are incurred.