Which of the following fund types does not use modified accrual accounting?
A) Debt Service
B) Special Revenue
C) Agency
D) Permanent

Name: Which of the following fund types does not use modified accrual accounting? A) Debt Service B) Special Revenue C) Agency D) Permanent
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Question

Quizplus · Accepted Answer

Agency funds use cash basis accounting, not modified accrual accounting. The other options (Debt Service, Special Revenue, and Permanent) all use modified accrual accounting.

Which of the Following Fund Types Does Not Use Modified