The General Fund of Gillette Levied Property Taxes of $400,000

question 27

Multiple Choice

The general fund of Gillette levied property taxes of $400,000 on November 1,20X8.However,the property taxes are not collectible until May and August of 20X9.Assume Gillette reports on the calendar year.On Gillette's general fund balance sheet at December 31,20X8,the property taxes levied on November 1 should:

• A)be reported as an asset and as a decrease in unassigned fund balance.
• B)be reported as an asset and as an increase in unassigned fund balance.
• C)be reported as an asset and as a reservation of fund balance.
• D)be reported as an asset and as a deferred revenue.

Comprehend the role of genetics, environment, and their interaction in child development.

Understand the universal sequence and variation in infant language development.

Recognize the importance of biological maturation in infants' language and sensory perception.

Describe the development of sensorimotor intelligence and problem-solving in infants.

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Definitions:

Line of Credit

An arrangement by which a bank agrees to lend a specified amount of money to an organization upon request.

Non-recourse Loan

A type of loan where the lender's ability to recoup losses is limited to seizing the collateral, with no right to pursue the borrower's other assets if the collateral’s value is insufficient.

Principal

An amount of money that is loaned or invested, excluding any interest or profit earned on it.