$12.$ Gifts of capital assets are recorded in

i$.$ proprietary fund, if use is related to the purpose of that fund

ii$.$ general fund, if use is related to the overall general government function and is planned to be held $($not sold$)$

iii. capital assets, if use is related to the overall general government function and is planned to be held $($not sold$)$

a$)$ I

b$)$ II

c$)$ III

d$)$ I and III

$13.$ Under the accrual basis of accounting, gains and losses on disposal of capital assets

a$)$ are not recognized.

b$)$ are recognized when the proceeds $($cash$)$ of the sale are received $($on the installment basis$).$

c$)$ are recognized only if there is a gain.

d$)$ are recognized when the sale occurs, regardless of when the cash is collected.

$14.$ Under the modified accrual basis of accounting, license fees, permits, and other miscellaneous revenue are generally recognized for practical purposes

a$)$ when cash is received.

b$)$ when the exchange takes place.

c$)$ over the period during which the government obtains an enforceable legal claim.

d$)$ when related expenditures are incurred.

$15.$ In government$-$wide statements of activities are reported in $\_\_\_$ separate columns

a$)$ two

b$)$ three

c$)$ five

d$)$ one column for each function.

$16.$ A city that has property taxes of $$720,000($of which $10$ percent are estimated to be uncollectible$)$ which are levied in October $2016$ to finance the activities of the fiscal year $2017.$ During $2017,$ cash collections related to property taxes levied in October $2016$ were $$600,000.$ In $2018$ the following amounts related to the property taxes levied in October $2016$ were collected: January $$30,000$; March, $$6,000.$ For the fiscal year ended $12/31/17,$ what amount should be recognized as property tax revenues related to the $2016$ levy on the governmental fund financial statements?

a$)$ $$720,000.$

b$)$ $$648,000.$

c$)$ $$630,000.$

e$)$ $$600,000.$