Which of the Following Accounts Is Least Likely to Be

question 21

Multiple Choice

Which of the following accounts is least likely to be used by a tax agency fund?

• A) Cash.
• B) Revenues.
• C) Taxes receivable for other funds.
• D) Due to other governments.

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Definitions:

Shares

Units of ownership interest in a corporation or financial asset that provide for an equal distribution in any profits, if any are declared, in the form of dividends.

Consolidation

The process of combining assets, liabilities, and other financial items of two or more entities into one.

Corporations

Legal entities that are separate from their owners, offering limited liability to its shareholders, and created under corporate law.

Merger

The combination of two or more companies into a single legal entity, often to achieve greater efficiencies of scale and scope.