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Which of the following statements, if any, concerning the modified cash basis of accounting is/are correct? I. The modified cash basis of accounting employs some elements of accrual accounting. II. To
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Which of the following statements, if any, concerning the modified cash basis of accounting is/are correct?

I. The modified cash basis of accounting employs some elements of accrual accounting.
II. To be acceptable, modifications to the cash basis of accounting must have substantial support in practice.
Options:
A. I only.
B. II only.
C. Both I and II.

User Boxxar
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Answer: C. Both I and II.

Step-by-step explanation:

User Alfah
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