A City That Has a 12/31 Fiscal Year End Has

question 27

Multiple Choice

A city that has a 12/31 fiscal year end has adopted a policy of recognizing property tax revenue consistent with the 60-day rule allowable period under GAAP. Property taxes of $600,000 (of which none are estimated to be uncollectible) are levied in October 2016 to finance the activities of fiscal year 2017. Property taxes are due in two installments June 20 and December 20. Cash collections related to property taxes are as follows: The total amount of property tax revenue that will be recognized in the government-wide financial statements in 2017 is:

• A) $600,000.
• B) $575,000.
• C) $535,000.
• D) $525,000.

---

Definitions:

Resolution

The detail level of a digital image or display, defined by the number of pixels in width and height.

Handout Master

In presentation software like PowerPoint, it is the template used for controlling the layout and design of handout pages.

Background Styles

Predefined or custom settings that determine the appearance of the background in a document or presentation, including color, texture, or image.

Date & Time

Features in devices and software applications that display the current date and time, and often allow setting reminders or events.