Property Taxes, special assessments and fines and forfeits are types of nonexchange transactions and assets should be recognized when an enforceable legal claim exists or when the resources are received, which ever is first. These are examples of:
Recently Asked Questions
- What is the relationship and difference of the Purchasing PowerParity and International Fischer Effect.
- Consider your organization or another organization with which you are familiar. Briefly describe the organization, and then answer the following questions:
- Where do you find the net cash flows from operating activities?