For purposes of recognizing property tax revenues in governmental funds, "available" is defined as
A)revenues received within 90 days of year-end.
B)revenues received within 60 days of year-end.
C)revenues received within 120 days of year-end.
D)being up to the judgment of the preparer.

Question

Quizplus · Accepted Answer

"Available" is typically defined as revenues that are collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period, usually within 60 days of year-end.

For Purposes of Recognizing Property Tax Revenues in Governmental Funds