Under the accrual basis of accounting, imposed nonexchange revenues such as fines should be recognized
A)when assessed.
B)when the government has an enforceable legal claim.
C)when collected.
D)when the government has an enforceable legal claim and when the collected within the current period or soon enough thereafter to be used to pay the liabilities of the current period

Question

Quizplus · Accepted Answer

Under the accrual basis of accounting, imposed nonexchange revenues like fines are recognized when the government has an enforceable legal claim to the resources.

Under the Accrual Basis of Accounting, Imposed Nonexchange Revenues Such