Under the modified accrual basis of accounting for the general fund, expenditures should be recognized in the period in which the related liability is:
A) I only
B) II only
C) Both I and II
D) Neither I nor II

Question

Under the modified accrual basis of accounting for the general fund, expenditures should be recognized in the period in which the related liability is: 
A) I only 
B) II only 
C) Both I and II 
D) Neither I nor II

Quizplus · Accepted Answer

The Answer of Under the modified accrual basis of accounting for the general fund, expenditures should be recognized in the period in which the related liability is: 
A) I only 
B) II only 
C) Both I and II 
D) Neither I nor II

Under the Modified Accrual Basis of Accounting for the General