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

Question

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:
I.paid.
II.incurred.
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