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Multiple choice: As recommended by GASB, income tax revenues should be recognized in the governmental fund financial statements in the accounting period: ( when should
Multiple choice:
As recommended by GASB, income tax revenues should be recognized in the governmental fund financial statements in the accounting period: ( when should revenues be recognized?)
A. when collected in cash by the taxing authority in which the underlying income was earned,
B.r egardless of when collected in which the underlying income was earned,
C. if collected in the current period or soon enough thereafter to pay liabilities of the current period
D. when earned
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