Which Statement Most Accurately Reflects Property Taxes

question 26

Multiple Choice

Which statement most accurately reflects property taxes?

• A) Property taxes are derived tax revenues because property owners have the benefit of ownership.
• B) Property taxes are considered a special assessment by the governing agency.
• C) When recording, property taxes the receivable is record and the revenue is recognized when the government has enforceable legal claim.
• D) When recording, property taxes the revenue is recognized in the period in which it can be used.
• E) Property taxes are the result of the government making an assessment, only when an underlying exchange has occurred.

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Definitions:

Desirable Behavior

Actions or conducts that are considered positive, beneficial, or preferable within a specific context, such as a workplace or social setting.

Expulsion

The act of forcibly removing someone from a place, position, or organization, typically as a punishment.

Welfare-based Justice

A principle of justice that focuses on the distribution of resources and opportunities to ensure the well-being and minimum standards of living for all.

Contribution-based Justice

The principle that rewards and recognition should be based on the level of contribution an individual or group makes.