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If you mistakenly undo an action, how do you correct your mistake?
Face Amount
The nominal value stated on the face of a financial instrument, such as a bond, that the issuer promises to pay at maturity.
Prepaid Property Tax
An expense recorded when property taxes are paid in advance before they are due, treated as an asset on the balance sheet.
Property Tax Expense
An expense recorded to reflect the cost of property taxes levied by local governments, often related to real estate owned.
Property Tax Payable
The amount of property tax that a company or individual owes to a local government but has not yet paid.
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