The state government passes a law requiring localities to upgrade their water treatment facilities. The state then

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The state government passes a law requiring localities to upgrade their water treatment facilities. The state then awards a grant of $500,000 to the Town of Midlothian to help pay for this cost. What type of revenue is this grant?

a. Derived tax revenue.
b. Imposed nonexchange revenue.
c. Government-mandated nonexchange revenue.
d. Voluntary nonexchange transaction.

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Advanced Accounting

ISBN: 978-1259444951

13th edition

Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupni

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Question Posted: Oct 04, 2022 02:03 AM

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The state government passes a law requiring localities to upgrade their water treatment facilities. The state then

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c Government mand ated nonex change revenue This grant is a go...View the full answer

Advanced Accounting

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