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QveST [7]
3 years ago
14

The accrual basis of accounting applicable to proprietary fund types requires that exchange revenues be recognized when:________

___
A. Earned.
B. Collected in cash.
C. Authorized by the budget ordinance.
D. Measurable and available.
Business
1 answer:
Lady_Fox [76]3 years ago
5 0

Answer:

A. Earned.

Explanation:

The accrual basis of accounting applicable to proprietary fund types requires that exchange revenues be recognized when <u>earned.</u> In Accrual Accounting, revenue is recognized when it is earned and is recognizable to be collected in future, not when cash is received against that revenue.

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