It is possible to have a prepaid property tax and a property tax expense recorded at the same time.

Name: It is possible to have a prepaid property tax and a property tax expense recorded at the same time.
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Quizplus · Accepted Answer

A prepaid property tax is recorded as an asset when paid in advance, while a property tax expense is recorded as an expense when the tax is incurred. Both can exist simultaneously in accounting records.

It Is Possible to Have a Prepaid Property Tax and a Property