The Revenues Account of a Government Is Debited When

question 85

Multiple Choice

The Revenues account of a government is debited when:

• A) The budget is recorded at the beginning of the year.
• B) Property taxes are recorded.
• C) The account is closed to fund balance-unassigned at the end of the year.
• D) Property taxes are collected.

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Definitions:

Collective Intelligence

The shared or group intelligence that emerges from the collaboration or collective efforts of many individuals working together.

Crowdsourcing

The process of obtaining ideas, content, or services by soliciting contributions from a large group of people, especially an online community.

Network Effect

The phenomenon by which a product or service gains additional value as more people use it, thus encouraging further adoption and usage.

Collectively Intelligent

Describes a group or system that demonstrates a high level of intelligence and problem-solving ability through the aggregation of individual members' knowledge and skills.