Government

Question 1

Governments use what kind of accounting

Answer 1

Modified accrual accounting that uses the taxes earned in the current period

Question 2

What is budgetary accounting

Answer 2

Ensures compliance with budget

Question 3

What is activity accounting

Answer 3

Accounts for transactions
(liabilities, expenses, debt, assets)

Question 4

What is encumberances accounting

Answer 4

Accounts for purchase orders to control reckless expenditures