Under the modified accrual basis of accounting,revenue should be recognized when it is:
A)measurable and earned.
B)received in cash.
C)available and earned.
D)measurable and available.

Question

Quizplus · Accepted Answer

Under the modified accrual basis of accounting, revenue is recognized when it is both measurable and available to finance expenditures of the current period.

Under the Modified Accrual Basis of Accounting,revenue Should Be Recognized