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MSB AC 330 XM2 unit

MSB GovNFP Unit unit 4

QuestionAnswer
What are deliquent taxes? Taxes that have not been paid by a specic date, a penalty is attached to the non payment of the taxes.
Tax anticipation note a not issued for collection of taxes, can be retired only fron tax collections
What are derived tax revenues Are a classification of non exchange transactions EX: income and sales taxes
What are internal exchanges? interfund and inter activity transactions with reciprocal exchange
GASB classification of a nonexchange revenue imposed nonexchange
The method of recording suppplies as expenditures when they are purchased? Purchase Method
The method of recording supplies as inventory when purchased and expenditures when they are consumed Consumption Method
When the government receives value without directly giving equal value in exchange. non exchange revenue
A loan that is made from one fund to another, with intent to repay. Interfund loan
An interfund transaction that occurs between two governmental fund? Intra activity transaction
Created by: aaronjziegler