Revenue from property taxes should be recorded in the General Fund
A) when received.
B) when there is an enforceable legal claim.
C) when they are available for recognition.
D) in the period for which they are required or permitted to be used.
E) in the period in which the tax bills are mailed.

Question

Quizplus · Accepted Answer

Revenue from property taxes should be recorded in the General Fund in the period for which they are required or permitted to be used because this is when the government has the legal right to collect the taxes and the resources are available to be used.

Revenue from Property Taxes Should Be Recorded in the General