ACCT. FOR GOV.&NONPROF. ENTITIES>CUSTOM
18th Edition
ISBN: 9781307515596
Author: RECK
Publisher: MCG/CREATE
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Chapter 3, Problem 19EP
To determine
Indicate whether the given expenditure items must be classified as Taxes (T), Licenses and permits (LP), Intergovernmental revenues (I), charge for service (CS), Fines and forfeits (FF) or Miscellaneous revenues (M).
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1) Determine whether each of the following elements should be classified as taxes, licenses, permits, intergovernmental revenues, service fees, fines, forfeiture, or miscellaneous income in a government fund. Â
A) Government sales and usage taxes.
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2) Explain income, expenses, receipts, and payment? Draw the figure with an example? What is the difference between the two statements?
1) State whether each of the following items should be classified as taxes, licences and permits, intergovernmental revenues, charges for services, fines and forfeits or miscellaneous revenue in a governmental fund. Â Â Â Â
a) Sales and use taxes levied by the government.
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Chapter 3 Solutions
ACCT. FOR GOV.&NONPROF. ENTITIES>CUSTOM
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