When using modified accrual accounting,revenues should be recognized when measurable and available to finance expenditures of the current period.Property tax revenue is considered available if it is received no more than 60 days after the fiscal year end.

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According to modified accrual accounting, property tax revenue is considered available if it is received no more than 60 days after the fiscal year end. Therefore, revenues should be recognized when measurable and available to finance expenditures of the current period.

When Using Modified Accrual Accounting,revenues Should Be Recognized When Measurable