26. Which of the following statements is correct? A. In Wayfair vs. South Dakota, the Supreme Court established the concept of "economic nexus" for the collection of sales taxes from retailers who do not have "physical nexus" in the state where the sales are made. B. Current financial resources that are constrained by "an intent to use resources for a specific purpose" are reported as fund balance-committed on the general fund balance sheet. C. A and B. D. Neither A nor B. 27. Which of the following statements is correct? A. Online retailers who make sales to Illinois residents are required to collect both the state's sales tax of 6.25% and any home rule sales tax applicable to the local government where the buyers live. B. In an expenditure driven grant, also known as a reimbursement grant, the grantee local government recognizes revenue when the grantor government agrees to make the reimbursement. C. A and B. D. Neither A nor B. Use the information below to answer questions 28 and 29. On October, 12, 2021, the Village of Oak Park received a state grant of $50,000 to train its public safety employees in counter terrorism activities. The grant has no time restrictions. According to the terms of the grant, the Village will initially spend its own resources to train its public safety employees. The state will then reimburse the Village for the amount that the Village has expended. During October and November, 2021, the Village expended $27,000 for terrorist training. On December 4, 2021, the state agreed to reimburse the Village for the amount expended. State funds were remitted to the Village on December, 15, 2021. 28. On October 12, 2021, the Village should recognize the grant from the state by A. Debiting "due from other governments" for $50,000. B. Crediting "deferred inflows of resources" for $50,000. C. A and B. D. Neither A nor B. 29. Which of the following statements is correct? A. On December 4, 2021, "revenues-intergovernmental" should be recognized for $27,000. B. On the general fund balance sheet at December 31, 2021, fund balance restricted should be reported for $23,000, the unexpended portion of the grant. C. A and B. D. Neither A nor B