« previous next »

Author Question: Which of the following statements regarding tax revenue recognition in the General Fund is false? ... (Read 51 times)

nramada

  • Hero Member
  • *****
  • Posts: 580
on: Jul 5, 2018
Which of the following statements regarding tax revenue recognition in the General Fund is false?
 
  a. Tax revenues may be recognized when the tax is levied.
  b. Governments may choose to recognize tax revenue as it becomes available, not when it is initially levied.
  c. Tax revenues are recognized at gross amounts of the levy, regardless of expected collections.
  d. Tax revenues are recognized net of the allowance for uncollectibles.
  e. Both items b and c are false.

Question 2

The payment for the monthly rent will require which of the following entries?
 a. debit Cash and debit Rent Expense
  b. credit Cash and credit Rent Expense
  c. debit Rent Expense and credit Cash
  d. credit Rent Expense and debit Cash


tmlewis4706

  • Sr. Member
  • ****
  • Posts: 295
Reply #1 on: Jul 5, 2018
Answer to Question 1

C

Answer to Question 2

c


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Did you know?

There are immediate benefits of chiropractic adjustments that are visible via magnetic resonance imaging (MRI). It shows that spinal manipulation therapy is effective in decreasing pain and increasing the gaps between the vertebrae, reducing pressure that leads to pain.

Did you know?

It is difficult to obtain enough calcium without consuming milk or other dairy foods.

Did you know?

Computer programs are available that crosscheck a new drug's possible trade name with all other trade names currently available. These programs detect dangerous similarities between names and alert the manufacturer of the drug.

Object and Word Recognition After Midsegments of Lines Have Been Eliminated Object and Word Recognition After Midsegments of Lines Have Been Eliminated
Figure 7.1 shows the rapid decline in the trust of Americans in government since the 1960s. This de Figure 7.1 shows the rapid decline in the trust of Americans in government since the 1960s. This de
Start the diagnosis by locating the relay center. It is under the hood on this General Motors ... Start the diagnosis by locating the relay center. It is under the hood on this General Motors ...
Pathways of nitrogen metabolism (purple) in the general pattern of intermediary metabolism Pathways of nitrogen metabolism (purple) in the general pattern of intermediary metabolism
General, Organic, and Biological Chemistry, 3rd edition General, Organic, and Biological Chemistry, 3rd edition
Common restriction enzymes, with their recognition sequence, DNA cutting patterns, and sources Common restriction enzymes, with their recognition sequence, DNA cutting patterns, and sources
Video: Carbon fixing adaptations Animation

For a complete list of videos, visit our video library