The Revenue Classifications Recommended by GASB Standards Are Listed Below

question 32

Short Answer

The revenue classifications recommended by GASB standards are listed below:
A.Taxes
B.Licenses and permits
C.Intergovernmental revenue
D.Charges for services
E.Fines and forfeits
F.Miscellaneous
For each revenue source listed below indicate its correct classification by placing the appropriate letter in the blank space next to the item.
____ 1.Capital grant received by a city from a state
____ 2.Property tax levied by city
____ 3.Library use fees
____ 4.Building permit
____ 5.Speeding ticket

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Definitions:

Receipts

Documents that acknowledge the receipt of a payment or goods.

Application Programs

Software designed to perform specific tasks for users, such as word processing or web browsing.

Hardware

The visible parts of a computer system (keyboard, disk drive, monitor, and printers).

Software

Computer programs necessary for directing the computer hardware to perform specific functions; refers to the application programs containing instructions to the computer that enable it to perform tasks. A computer, by itself, cannot do anything without software for accessing and inputting data.