When should sales tax revenues and property tax revenues be recognized for governmental activities in the government- wide statement of activities?
Answer to relevant QuestionsDescribe the difference between expenditure recognition and measurement in the governmental funds financial statements and expense recognition for governmental activities in government-wide financial statements. Define and give illustrations of infrastructure assets. Simon County realized $ 2,500 in cash when it auctioned off three automobiles previously used by its inspectors. It deposited the proceeds in its General Fund. According to its capital asset records, Simon had originally ...Marilyn County operates on a calendar year basis. It uses a Capital Projects Fund to account for major capital projects and a Debt Service Fund to accumulate resources to pay principal and interest on general obligation ...What are the two components of an agency’s net position? Describe the major causes of the year-to- year changes in each component.
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