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flexdeck · 03-23-2008, 12:46 PM

C)... lending institution is the answer

Here is why:

The following would be considered a comprehensive basis of accounting (OCBOA) other than GAAP.
1. A cash receipts and disbursements system
2. A basis of accounting that the entity uses (or expect to use) to file its income tax returns. 3. A basis of accounting used to comply with the requirements of a governmental regulartory agency having jurisdiction over the reporting entity.
4. A definite set of criteria having substantial support that is applied to all material items, such as price-level adjusted financial statements.

03-23-2008, 12:46 PM	#2 (permalink)
flexdeck Status: n00b Join Date: Mar 2008 Posts: 26 Credits: 359	C)... lending institution is the answer Here is why: The following would be considered a comprehensive basis of accounting (OCBOA) other than GAAP. 1. A cash receipts and disbursements system 2. A basis of accounting that the entity uses (or expect to use) to file its income tax returns. 3. A basis of accounting used to comply with the requirements of a governmental regulartory agency having jurisdiction over the reporting entity. 4. A definite set of criteria having substantial support that is applied to all material items, such as price-level adjusted financial statements.