Governments record revenues for levied property taxes in the General Fund when the property taxes are measurable and available.

Name: Governments record revenues for levied property taxes in the General Fund when the property taxes are measurable and available.
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Under the modified accrual basis of accounting used in the General Fund, revenues are recognized when they become susceptible to accrual; that is, when they are measurable and available.

Governments Record Revenues for Levied Property Taxes in the General