The receipt of an allotment is recorded by a government entity in the? RAOD ORS RAPAL a and c

Q: At what point in time does a governmental fund report an expenditure?

A: Definition:   Governmental (expendable) funds: Governmental (expendable) funds are used in the state…

Q: What are the four classifications of nonexchange revenues that a state or local government can…

A: Revenue: Revenue refers to the income received from the business activity or sale of the output,…

Q: which concerns with revenue and disbursement of government such as central government , state…

A: Finances are referred as the management of money from investing activities, borrowing, lending,…

Q: rmining federal income withholding found?

A: Employers are required to withhold the pay of the employees to extent of the tax liability of the…

Q: A general purpose government takes over a special purpose government in an acquisition. The…

A: Introduction: The acquisition refers to the business combination when one entity or organization…

Q: The receipt of an appropriation is recorded by a government entity in the RAOD ORS RAPAL a and b

A: The answer is provided as follows:

Q: The modified accrual foundation of accounting should be explained. When preparing financial accounts…

A: Modified accrual basis of accounting:  A modified accrual basis of accounting is a method of…

Q: The incurrence of an obligation for future delivery or performance by the oblige is recorde by a…

A: The decision making process in government is an imported aspect of the environment of state…

Q: Under what condition is the modified approach applied by a state or local government?

A: Accrual basis of accounting: Accrual basis of accounting refers to recognizing the expenses and…

Q: ce of BIR rulings ce of revenue memorandum circula ce of revenue regulations

A: The answer has been mentioned below.

Q: ss major differences between a governmental entity's uses of the modified accrual method and a…

A: Modified Accrual Accounting: An Explanation To understand how modified accrual accounting works,…

Q: The cost of land usually includes all of the following except a. commission related to acquisition…

A: Cost of land is the value of the land and the enhancements made to the land. The detailed…

Q: In entity A’s first quarter Statement of Appropriations, Allotments, Obligations, Disbursements and…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: What is the federal counterpart of the state and local government "encumbrance"? Select one: a.…

A: Encumbrances represent amounts a government has committed to pay for goods or services that were not…

Q: rite the definition, recognition, measurement and derecognition of  GOVERNMENT GRANT.

A: Government grant:  It is the sum of the grant given to the business by the government that a…

Q: Which of the following adjustments would likely be made when moving from governmental funds…

A: Government wide financial statement shows transactions for government based business. They measure…

Q: Compare the purchase and sale of government securities with the purchase and sale of agency…

A: Government Securities are the securities which are often sold by the government. Purchase and sale…

Q: Fixed assets donated to a governmental unit should be recorded a. at estimated fair value when…

A: Fixed assets: A fixed asset is a long-term tangible piece of property or equipment that a firm owns…

Q: What is the amount of itemized deductions that can be claimed on the state return?

A: Itemized deduction is the amount of deduction that is subtracted from the gross income and it…

Q: Explain t

A: Modified accrual accounting combines aspects of accrual basis accounting with cash basis accounting…

Q: Property is classified in several different ways and for several different pur-poses in the federal…

A: Taxable income is the measurement of income which is used to calculate the amount of tax that needs…

Q: If an entity wants to account for investment property, it may choose between two accounting models.

A: The valuation of investment property is a must have feature in the presentation of the company’s…

Q: Government grants related to income are presented preferably as Other income in the income statement…

A: As per IAS 20 Accounting for government grant and disclosure of government assistance  Government…

Q: may be granted to * a Officials of the BIR b. Public officials or employees c. Close relatives of…

A: As per law, Any person who has information of violation of the Internal Revenue or Custom and this…

Q: give the definition, recognition, measurement and derecognition of "government grant"

A: International Financial Reporting Standards, generally called IFRS, are the accounting standards…

Q: undertaking of a taxable activity. b. earning of taxable income. in the revenue reported by a…

A: 4. The VAT is profoundly based of sale event. Therefore it is the sale of goods and services are…

Q: When is an encumbrance recorded? What happens to this balance? How are encumbrances reported in…

A: The GASB is the board that provides the guideline to the governmental units about proper accounting…

Q: 1. How does the GASB define extraordinary and special items? Compare the definitions and recognition…

A: The GASB defines extraordinary and special items as those of FASB that is unusual and infrequent but…

Q: In the case of grants related to income, which of these accounting treatments is prescribed by IAS…

A: Generally, Government grants are recognized as income over a period necessary to match them with…

Q: The entity concepts

A: In accounting, a business or a corporation and its homeowners square measure treated as to one by…

Q: How is depreciation handled in the federal government’s General Fund? How does it differ from how…

A: Depreciation: Generally speaking, the word "depreciation" refers to an accounting process that is…

Q: Government grants are recognized only when there is reasonable assurance that the entity will comply…

A: Government Grants Government grants which are provided by the government to the needy entity.  There…

Q: 14 A government entity accounts for transfers to or from investment property at cost, no gain or…

A: Answer:- True Explanation :- The investment property is transfer and invested in cost there will be…

Q: realization in federal taxation

A: For federal income tax purposes, realization is a requirement on what should be included as income…

Q: How does the topic of accounting for government grants relate to the topic of accounting for…

A: Government Grants for biological  asset is covered  under IAS 41 Agriculture  standard

Q: Government supply the electricity and collected charges is under the control of activities…

A: Government supply the electricity and collected chargee is under the control of activities…

Q: Why does a government determine the net expenses or revenues for each of the functions within its…

A: Revenue: Revenue refers to the income received from the business activity or sale of the output,…

Q: A donated fixed asset （from a governmental unit) for which the fair value has been determined should…

A: The resources that a firm employs in its commercial activities are referred to as assets. A donated…

Q: All of the following are income from property except ________.   Question 7 options:   a)  Rent…

A: INCOME IS THE MONEY RECEIVED BY A PERSON OR BUSINESS THROUGH EMPLOYMENT , BUSINESS OR INVESTMENT .

Q: 21. It is a demand of proprietorship, is paid for the use of another's property and may be imposed…

A: Toll means the charges paid by user of property to the other . Fees means the amount paid  for…

Q: cles to use an accrual basis the assist CORIS RA with its accor

A: Cash flow statement which are used to assess the information of total net changes in the assets…

Q: S1: Government grant related to depreciable asset is usually recognized as income over the useful…

A: Introduction:- Government grants are support by government in the form of take of resources to an…