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During 2014, a state has the following cash collections related to state income taxes Assuming that the state defines "available" as the maximum period allowable for property taxes, what is the amount of revenue that will be recognized in the 2014 government-wide financial statements related to state income taxes?
Arrearage
A legal term for the part of a debt that is overdue after missing one or more required payments.
Preferred Shareholders
Investors who own preferred shares in a company, giving them priority over common shareholders in the distribution of dividends and assets.
Dividend Distributions
Payments made by a corporation to its shareholders, usually derived from the company's earnings.
Cumulative Voting
A voting system that allows shareholders to concentrate their votes on a single candidate for the board of directors.
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