According to the GASB definition, which of the following represents an inflow of resources?
A) Expenditures.
B) Revenues.
C) Assets.
D) Deferred inflows.

Question

Quizplus · Accepted Answer

Revenues represent an inflow of resources to a government entity. Expenditures represent an outflow of resources, assets are resources owned by the entity, and deferred inflows represent resources that will be recognized as inflows in a future period.

According to the GASB Definition, Which of the Following Represents