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Governments have many types of revenues, including: -Property taxes. -Sales taxes. -Income taxes. -Licenses and permits. -Fines. -Grants and donations. -Sales of capital assets. -On-behalf
Governments have many types of revenues, including: -Property taxes. -Sales taxes. -Income taxes. -Licenses and permits. -Fines. -Grants and donations. -Sales of capital assets. -On-behalf payments.
Referring to the list above, please respond to the following: Which type of revenue might be most difficult for accountants to determine when to recognize in the financial statements? Explain your choice.
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