In Addition to Exchange Revenues, GASB Standards Discuss Four Categories

question 14

Essay

In addition to exchange revenues, GASB standards discuss four categories of nonexchange revenues. For each of the following revenues recognized by a city indicate the category into which it best fits.
A. A state grant that the city must accept and use to hire air pollution inspectors
________________________
B. Revenue from fees charged by the police department to monitor a charity bicycle ride
_______________________
C. Fines for traffic violations
_______________________
D. A federal grant to support general education services.
_______________________
E. Investments in the state's investment pool.
________________________
F. Hotel occupancy tax.
________________________
G. Local option sales tax
________________________
H. City library late fees
________________________

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Definitions:

Inflation

A general increase in prices and fall in the purchasing value of money.

Output

The total amount of goods or services produced by a company or economy in a certain period.

Inflation Rate

The rate at which the general level of prices for goods and services is rising, thereby eroding purchasing power.

Reducing Inflation

Measures and policies implemented to decrease the rate at which the general level of prices for goods and services is rising.