The basis of accounting for public sector is?

By: |Published on: Nov 30|Categories: Accounting JAMB| 0 comments

A. accrual basis
B. cost basis
C. revenue basis
D. cash basis

Correct Answer:

Option D – cash basis

Explanation

This is the basis for recording in government accounting where revenue are recorded when cash is received.

Users Also Read These:

SEE ALSO  Determine the cost of goods sold using FIFO?

Copyright warnings! Do not copy.