Author Question: Each individual entry in the revenue journal is posted to a. the accounts receivable controlling ... (Read 160 times)

tiara099 · **on:** Jul 5, 2018

Each individual entry in the revenue journal is posted to
a. the accounts receivable controlling account
b. the accounts receivable subsidiary ledger
c. the revenue controlling account
d. the accounts receivable subsidiary ledger and the controlling account

Question 2

When should property tax revenues be recognized in government-wide financial statements?

a. in the period for which the taxes are levied (net of estimated refunds and uncollectibles),provided they are measurable and available
b. in the period for which the taxes are levied (net of estimated refunds and uncollectibles),even if the enforceable legal claim arises or due date for payment is in a different period
c. in the period they are collected in cash, together with an accrual for uncollected taxes
d. in the period when an enforceable legal claim arises or when the resources are received, whichever occurs first