1. In governmental accounting, when are revenues normally recognized in a General Fund?

Select one:

a. When cash is received

b. When billings are mailed to service recipients

c. When the revenues are measureable and available

d. When the revenues are earned

2.Inside a fund, which of the following will occur from using the current financial resources measurement focus?

Select one:

a. Capital assets will be depreciated

b. Long-term assets and liabilities will not be recorded in the fund

c. Property taxes will be recognized on the cash basis of accounting

d. A liability must be reported for unsettled claims, provided payment ultimately will be made