When the government collects funds from it's citizens or other parties, pursuant to GASB No. 33,...

Transcribed Image Text:

When the government collects funds from it's citizens or other parties, pursuant to GASB No. 33, this is a nonexchange revenue (in other words its not a sale, it is a taking). There are four major categories that are set forth in GASB No. 33. The collection of proceeds from seized property best fits which category? a. none of the choices are valid O b. derived tax revenues c. all of the choices are valid d. voluntary nonexchange transactions e. imposed nonexchange revenues 1. government mandated nonexchange transactions When the government collects funds from it's citizens or other parties, pursuant to GASB No. 33, this is a nonexchange revenue (in other words its not a sale, it is a taking). There are four major categories that are set forth in GASB No. 33. The collection of proceeds from seized property best fits which category? a. none of the choices are valid O b. derived tax revenues c. all of the choices are valid d. voluntary nonexchange transactions e. imposed nonexchange revenues 1. government mandated nonexchange transactions