AccountingBLOCK

Which is not a comprehensive basis for accounting, other than GAAP?

A) Cash receipts and disbursements basis
B) The basis it uses on its income tax return
C) Basis used by an entity to comply with financial reporting requirements of a lending institution D) Basis used by an entity to comply with financial reporting requirements of a government regulatory agency.

This question is from a CPA review guide, it is confusing and difficult and I have no way of finding out the answer.... I will take your word...

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.

This question is from Bayer cpa review and yeah, it is a difficult and a tricky one... every answer seems right :P