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Which basis of accounting is used by funds that have a current financial resources measurement focus? Select one: O A. ModifiWhich of the following is an example of activities that are likely to be accounted for in a governments General Fund? SelectAt what point are revenues recognized in the General Fund? Select one: A. When billings are mailed to service recipients B. W

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Answer #1

1.

Which basis of accounting is used by funds that have a current financial resources measurement focus?

Answer: Modified accrual basis

2.

Which of the following is an example of activities that are likely to be accounted for in a government's general fund?

Answer: Property taxes to be used to provide basic government services

3.

At what point are revenues recognized in the General Fund?

Answer: When the revenues are measurable and available

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