What is the meaning of the term available as used in governmental fund revenue recognition?

Question:

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Governmental and Nonprofit Accounting

ISBN: 978-0132751261

10th edition

Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi

See More Books

Question Posted: Oct 25, 2014 04:53 AM

See More Questions

What is the meaning of the term rights? Does it make sense to apply this term to animals? Why or why not?
What is the meaning of the term cash flow? Why is this term subject to confusion and misrepresentation?
What is the meaning of the term order point?
A company issues a callable (at par) ten-year, 7% coupon bond with annual coupon payments. The bond can be called at par in one year after release or any time after that on a coupon payment date. On...
In what way are fission and fusion reactions similar? What are the main differences in these reactions?
Armour Plastics Company is a family-owned corporation that manufactures small-size plastic bottles in the Philippines. It began being professionally managed only about two years ago. "Cat" Avellana,...
What is contribution?
Determine the amount of child tax credit in each of the following cases. a) A single parent with modified AGI of $43,400 and two children. b) A single parent with modified AGI of $76,058 and three...
Question 4 3 pts Jill has a higher IRR than Jack Jill's NPV is higher than Jack equal to Jack less than Jack either higher or lower than Jack
1. Using the spreadsheet model from Case 2.1 as a starting point, use Solver to find the optimal set of projects to approve. The solution should maximize the total NPV from the approved projects, and...
Using the information from C4-2 and assuming that the beginning budgetary and GAAP fund balance is $1,952,667, prepare the Statement of Revenues, Expenditures, and Changes in Fund BalanceBudget and...
A revenue item must be objectively measurable, as well as available, to be accrued as governmental fund revenue. What is meant by the term objectively measurable in this context?
Present a classification of hypothesis-testing procedures.
Verify the results of Eq. (14.48) for the properties of the chiral projection operators. Data from Eq. 14.48 P = P+ P+ + P = 1 P_P+ P+P = 0 Py" = y P
Prove that the estimating equations in (11.13) are unbiased under MCAR, but are generally biased without the stringent MCAR assumption. (x) [y - f (xt;)] = 0, i=1 (11.13)
Refer to Figure 11.5: Which is the most expensive subcontract for this project? How much were the costs for the general contractor's crews for item 4? Figure 11.5 Division 1 2 3 4 5 6 7 Work Gen'l...
a. Using observations on the change in consumption $D C_{t}=C_{t}-C_{t-1}$ and the change in income $D Y_{t}=$ $Y_{t}-Y_{t-1}$ from 1959Q3 to 2015Q4, obtained from the data file cons_inc,...
Water at $20^{\circ} \mathrm{C}$ flows by gravity from a large reservoir at a high elevation to a smaller one through a 35-m-long, 5-cm-diameter cast iron piping system that includes four standard...
Consider the possible advantages of convertible bonds for investors: I. II III. IV. the conversion feature enables the convertible to participate in major upward moves in the price of the underlying...
XYZ Inc. a calendar year, accrual basis corporation, had the following items during 2021: Gross revenue from operations Cost of goods sold $420,000 ($180,000) $9,000 LT capital gain .LT capital...
A particle of mass m and angular momentum moves in a central spring-like force field $F=-k r$. (a) Sketch the effective potential energy $U_{\text {eff }}(r)$. (b) Find the radius $r_{0}$ of...
The GAAP-based statements that are required to be presented for the General Fund are: a. Balance Sheet and Statement of Revenues, Expenditures, and Changes in Fund Balances. b. Balance Sheet;...
Assume that Nathan County has levied its current year taxes and all revenue recognition criteria for property taxes have been met. The amount levied was $775,000, of which 2% is deemed to be...
The net revenue approach can be best described as a. being consistent with the reporting of revenues in the private sector. b. evidenced by the recognition of bad debt expense for revenues earned but...
Read the following and then answer the questions below:September 12: A Brisbane business offers by letter to sell 500 tyres to a New Zealand company. The Brisbane company does not specify a method of...
Fred returns home from work one day to discover his house surrounded by police. His wife is being held hostage and threatened by her captor. Fred pleads with the police to rescue her and offers...
Would like you to revisit one of these. Consideration must be clear and measurable.if you can't measure it then how can you show it has / has not been done?How can you sue someone for breach of...

What is the meaning of the term available as used in governmental fund revenue recognition?

Question:

Step by Step Answer:

The term available means the revenue item is both 1 ...View the full answer

Governmental and Nonprofit Accounting

Students also viewed these Accounting questions