Which of the following statements regarding revenue subsidiary ledgers is false?
A) The number of revenue subsidiary ledgers necessary is at the discretion of management.
B) The number of revenue subsidiary ledgers used is limited by the number of broad revenue categories e.g., taxes, licenses and permits, intergovernmental that a governmental entity reports.
C) Entries to revenue subsidiary ledgers may be made at any time during a fiscal period.
D) Revenue subsidiary ledgers are never required.
Correct Answer:
Verified
Q1: Managers may ration expenditure authority into either
Q2: A budgetary comparison schedule is required to
Q11: Which of the following does not represent
Q12: Common functional categories of expenditures in governmental
Q12: During the year, Nathan Township amended
Q14: Listed below in alphabetical order are the
Q14: Legal authority to expend resources is adopted
Q17: SEQ CHAPTER \h \r 1Selected transactions
Q19: Which of the statements regarding the accounting
Q34: The following information pertains to the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents