Multiple Choice
In a Tax Agency Fund, revenues must be recognized
A) When measurable and available.
B) On the cash basis.
C) At net realizable value of the taxes receivable.
D) Revenues are not reported for Agency Funds.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q1: Which of the following statements are required
Q2: A government receives a donation of $300,000
Q3: The General Fund transfers $75,000 of employer
Q5: A county uses an agency fund to
Q6: A Pension Trust Fund that is provided
Q7: Pass-through grants are reported in an Agency
Q8: Equity in a fiduciary fund is referred
Q9: A government establishes an Investment Trust Fund.
Q10: In government-wide, proprietary fund, and fiduciary fund
Q11: A government receives a donation of $300,000