Question
The voters of the city passed an ordinance to increase their sales tax by percent. The proceeds of the sales tax are to be used
The voters of the city passed an ordinance to increase their sales tax by percent. The proceeds of the sales tax are to be used for culture and recreation. In the governmental activities journal, how would the percent sales tax revenue be recorded?
A. Program RevenueCulture and RecreationSales Tax.
B. Program RevenueCulture and RecreationOperating Grants and Contributions.
C. General RevenueSales Tax.
D. General RevenueCulture and RecreationSales Tax.
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Financial Accounting Tools For Business Decision Making
Authors: Paul D. Kimmel
4th Canadian Edition
0470155353, 978-0470155356
