Which of the following statements reflects the proper accounting treatment for grant revenues? a. Unrestricted grants are
Question:
Which of the following statements reflects the proper accounting treatment for grant revenues?
a. Unrestricted grants are recognized as revenue in governmental funds when cash is received.
b. Restricted grants are recognized as revenue in governmental funds when cash is received.
c. Restricted grants are recognized as revenue in governmental funds as eligibility requirements and the availability criteria are met.
d. Both a and b reflect proper accounting treatment for grant revenues in a governmental fund.
e. Both a and c reflect proper accounting treatment for grant revenues in a governmental fund.
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c Restricted grants are recognized as revenue in governmental funds as eligibi...View the full answer
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Related Book For 
Governmental And Nonprofit Accounting Theory And Practice
ISBN: 9780132552721
9th Edition
Authors: Robert J Freeman, Craig D Shoulders, Gregory S Allison, Terry K Patton, Robert Smith,
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