Which of the Following Best Describes the General Principle for Recognizing

question 11

Multiple Choice

Which of the following best describes the general principle for recognizing property tax revenues in the General Fund?

• A)They should be recognized in the current period to the extent that cash is collected
• B)They should be recognized for the entire amount levied for the current period,regardless of when they are collected in cash
• C)They should be recognized in the current period,less appropriate allowances for uncollectible accounts,tax refunds,and discounts
• D)They should be recognized in the current period to the extent collected and also if collected early in the following year

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Definitions:

Anal Stage

The second stage in Freud's psychosexual development theory, occurring between 18 months and three years, where the child's libido is focused on the anus, and toilet training is a key experience.

Phallic Stage

Stage in which, according to Sigmund Freud, boys become focused on their penis and girls become aware that they do not have one. Girls are said to develop penis envy (that is, they desire to have a penis and feel cheated).