Answer the following questions about methods of accounting. 1. On the accrual basis of accounting, revenues and

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Answer the following questions about methods of accounting.
1. On the accrual basis of accounting, revenues and support are recognized when an organization ____ an amount that it is likely to collect, and it recognizes expenses when it ____ a resource.
2. Accrual-based expenses associated with capital assets are called ____.
3. Capital projects are evaluated on the ____ basis of accounting.
4. Loan repayments are resource outflows on the ____ basis of accounting, but not on the ____ basis of accounting.
5. Borrowed amounts are resource inflows on the ____ basis of accounting, but not on the ____ basis of accounting.

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Financial Management For Public, Health, And Not-for-Profit Organizations

ISBN: 9781506396811

6th Edition

Authors: Steven A. FinklerDaniel L. Smith, Thad D. Calabrese

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