For Each Revenue Source Listed Indicate Its Correct Classification Recommended

question 86

Essay

For each revenue source listed indicate its correct classification recommended by GASB standards.
A. Taxes
B. Licenses and permits
C. Intergovernmental revenue
D. Charges for services
E. Fines and forfeits
F. Miscellaneous
________ 1. Capital grant received by a city from a state
________ 2. Property tax levied by city
________ 3. Library use fees
________ 4. Building permit

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Definitions:

Employee Salaries And Wages

Financial compensation paid to workers for their labor, including both fixed salaries and hourly wages.

Planning Budget

A budget designed at the beginning of a period, reflecting expected incomes and expenses based on forecasted operations.

Wells Serviced

The number of oil, gas, or water wells maintained, repaired, or serviced within a specific timeframe.

Servicing Materials

Raw materials or supplies used in the upkeep or maintenance of equipment or facilities.