Under GAAP, Property Taxes Levied in One Fiscal Period to Finance

question 29

Multiple Choice

Under GAAP, property taxes levied in one fiscal period to finance the activities of the following fiscal period are recognized as revenue in the fund financial statements

• A)in the year levied.
• B)in the year for which they are intended to finance the activities.
• C)when collected, regardless of when levied.
• D)in the year for which they are intended to finance the activities, if collected within that period or within a period no greater than 60 days after the close of the fiscal year.

---

Definitions:

Graphic Method

A technique used in data representation that involves using images, diagrams, or charts to visualize information.

Content Of Your Message

The main information or subject matter communicated through a speech, writing, or other media.

Communication Medium

The channel or method through which information is conveyed between communicators, such as in-person, email, social media, or print.

Formal Reports

In-depth, structured reports prepared for a specific audience, usually following established norms or standards.