The GASB has categorized nonexchange transactions into two categories: 1) imposed nonexchange revenues and 2) voluntary nonexchange transactions.
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Q20: Rainy day funds are classified as restricted
Q21: Modified accrual accounting is essentially equivalent to
Q22: A donation received is considered a voluntary
Q23: The GASB has created four "eligibility requirements"
Q24: Under the modified accrual basis, property taxes
Q26: When recording the budget, an excess of
Q27: The only difference between modified accrual accounting
Q28: Under modified accrual accounting, property tax revenue
Q29: Examples of budgetary accounts include Estimated Revenues,
Q30: With respect to Governmental Funds, Fund Balance
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