Under the modified accrual basis of accounting, derived nonexchange revenues are recognized when
A)they are earned.
B)they are measurable and available to finance the expenditures of the current period.
C)the underlying exchange transaction occurs.
D)the underlying exchange transaction occurs and they are measurable and available to finance the expenditures of the current period.

Question

Quizplus · Accepted Answer

The Answer of Under the modified accrual basis of accounting, derived nonexchange revenues are recognized when
A)they are earned.
B)they are measurable and available to finance the expenditures of the current period.
C)the underlying exchange transaction occurs.
D)the underlying exchange transaction occurs and they are measurable and available to finance the expenditures of the current period.

Under the Modified Accrual Basis of Accounting, Derived Nonexchange Revenues