Revenue and expenses on a government-wide statement of activities for a municipality should be measured on a(n)

Question

Quizplus · Accepted Answer

Revenue and expenses on a government-wide statement of activities should be measured on an accrual basis, which means recognizing revenue when earned and expenses when incurred, regardless of when the cash is received or paid. This provides a more accurate picture of the municipality's financial position and performance.

Revenue and Expenses on a Government-Wide Statement of Activities for a Municipality