1. Thhe state enacts a statewide business tax to fund general governmental operations. Will collection ofthe tax be an exchange or nonexchange transactions? Explain your answer.

2. The state adopts a fee for admission to state parks and a separate fee for camping overnight in these parks. Is collection of the admission fee an exchange or nonexchange transactions? Explain your reasoning.

3. Explain the difference between exchange and nonexchange transactions.

4. Describe how the impact of a timing restriction is different from the impact of a purpose restriction on the recognition of revenue.

5. What is the key difference between a derived tax revenue and an imposed nonexchange revenue?

6. Describe the four categories of nonexchange transactions. Provide a new example for

7. What are the common types of governmental taxes? Do they all recognize revenue using the same criteria? Explain your answer.

8. When is a property tax considered %u201Cavailable%u201D? Explain your answer

9. Food stamps are distributed by governments to qualified recipients. Why do governments have to account for food stamps as an expenditure and revenue? Explain your answer.

10. Describe the difference between a grant and an entitlement.

11. Explain what an endowment is and the related accounting for it.

12. Describe the criteria that are used to determine whether a donation of a work of art or historical treasure should be capitalized.

13. What is a service-type special assessment? Provide a new example of this kind of assessment.

14. What fund records operating revenue? Explain what it is logical for this account to be used in this fund.

15. Describe the two categories of interfund transactions.

Answers should be at least a sentence-MBA level