$1.$ As used in governmental accounting, interperiod equity refers to a concept of

a$)$ providing the same level of services to citizens each year.

b$)$ measuring whether current year revenues are sufficient to pay for current year services.

c$)$ levying property taxes at the same rate each year.

d$)$ requiring that general fund budgets be balanced each year.

$2.$ For fund financial statements, the measurement focus and basis of accounting used by governmental fund types are

a$)$ current financial resources and modified accrual accounting.

b$)$ economic resources and modified accrual accounting.

c$)$ current financial resources and full accrual accounting.

d$)$ economic resources and full accrual accounting.

$3.$ The modified accrual basis of accounting is used in presenting the fund financial statements of the governmental funds because

a$)$ it is the superior method of accounting for the economic resources of any entity.

b$)$ it ensures the entity achieved interperiod equity.

c$)$ facilitates comparisons among entities by standardizing reporting for all non$-$Federal governments

d$)$ it results in accounting measurements based on the substance of transactions.

$4.$ As used in defining the modified accrual basis of accounting, the term $$available$$ means

a$)$ received in cash.

b$)$ will be received in person within $60$ days after year$-$end.

c$)$ collection in cash is reasonably assured.

d$)$ collected within the current period or expected to be collected soon enough thereafter to be used to pay liabilities of the current period.

$5.$ Under the modified accrual basis of accounting, derived nonexchange revenues are recognized when

a$)$ they are anticipated to be paid.

b$)$ they are measurable and available to finance the expenditures of the current period.

c$)$ the underlying transaction occurs.

d$)$ the underlying transaction occurs and they are measurable and available to finance the expenditures of the current period.

$6.$ Under the accrual basis of accounting, property tax revenues are recognized

a$)$ when they are received in cash.

b$)$ in the year for which they were levied.

c$)$ in the year for which they were levied and when collection in cash is reasonably assured.

d$)$ when they are available to finance expenditures of the fiscal period.