| 1. | Proprietary funds, used for business-like activities, usually operate on an accrual basis.
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| 2. | The actual financing of the national budget is done on an accrual basis.
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| 3. | The accrual basis can identify the cost of operations while the current method cannot.
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| 4. | In the United States tax environment, the accrual basis has been an option since 1916.
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| 5. | Except for the unified budget deficit, the federal government's financial statements rely on accrual basis accounting.
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| 6. | GAAP employs the generally accepted form of accrual basis accounting, but not the only possible form.
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| 7. | If the trust involves a business-like operation, accrual basis accounting would be appropriate to show the fund's profitability.
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| 8. | Allows businesses that do not keep their books on an accrual basis to pay the tax in cash.
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| 9. | The GAO financial statements present data on an accrual basis, meaning as expenses are incurred rather than actual cash payments.
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| 10. | Two common accounting methods, cash basis accounting and accrual basis accounting, do not use the same process for measuring revenue.
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