Purchase Solution

Recording Property Tax Revenue in the General Fund

Not what you're looking for?

Ask Custom Question

Revenue from property taxes should be recorded in the General Fund

a. When received
b. In the period for which the taxes are levied
c. At the time of eligibility
d. When they are availabe for recognition
e. In the period in which they are conusmed

Purchase this Solution

Solution Summary

This solution discusses when revenue from property taxes should be recorded in a state or local government's general fund.

Solution Preview

Governmental Accounting Standards Board Statement No. 33 (Accounting and Financial Reporting for Nonexchange Transactions - Issued 12/98) defines imposed nonexchange revenues, as non-exchange revenues which result from assessments imposed on nongovernmental ...

Purchase this Solution


Free BrainMass Quizzes
SWOT

This quiz will test your understanding of the SWOT analysis, including terms, concepts, uses, advantages, and process.

Understanding Management

This quiz will help you understand the dimensions of employee diversity as well as how to manage a culturally diverse workforce.

Business Ethics Awareness Strategy

This quiz is designed to assess your current ability for determining the characteristics of ethical behavior. It is essential that leaders, managers, and employees are able to distinguish between positive and negative ethical behavior. The quicker you assess a person's ethical tendency, the awareness empowers you to develop a strategy on how to interact with them.

Accounting: Statement of Cash flows

This quiz tests your knowledge of the components of the statements of cash flows and the methods used to determine cash flows.

Writing Business Plans

This quiz will test your understanding of how to write good business plans, the usual components of a good plan, purposes, terms, and writing style tips.