Question on: SS3 Accounting - Terminologies Used In Public Sector Account
What is accrual accounting in public sector accounting?
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A
A method of accounting that records revenue and expenditure when they are earned or incurred
B
A method of accounting that records revenue and expenditure when the money is received or paid
C
A legal authority granted by a legislative body to spend money
D
A separate accounting entity that contains money or other resources allocated for a specific purpose
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Correct Option: A
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