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5. Which of the following statements is correct? A. Deferred inflows of resources are not liabilities. B. Imposed nonexchange revenues are recognized in the period

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5. Which of the following statements is correct? A. Deferred inflows of resources are not liabilities. B. Imposed nonexchange revenues are recognized in the period when an enforceable legal claim arises or when resources are received, whichever occurs first. C. A and B. D. Neither A nor B. 6. Which of the following statements is correct? A. The general fund should report a permanent transfer of resources to an internal service fund in the other financing sources (uses) section on the statement of revenues, expenditures, and changes in fund balance. B. A short-term loan from the general fund to a special revenue fund has to be authorized by the governing body, but the authorization is not included in the appropriations budget. C. A and B. D. Neither A nor B

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