_____ Which of the following accounts of a governmental unit is credited when taxpayers are billed for property taxes?
A) Estimated Revenues.
B) Revenues.
C) Appropriations.
D) Deferred Revenues.
E) None of the above.

Question

_____	Which of the following accounts of a governmental unit is credited when taxpayers are billed for property taxes?
A) Estimated Revenues.
B) Revenues.
C) Appropriations.
D) Deferred Revenues.
E) None of the above.

Quizplus · Accepted Answer

When taxpayers are billed for property taxes, the account credited is Deferred Revenues. This is because the revenue is recognized when it is available and measurable, not necessarily when it is billed.

_____ Which of the Following Accounts of a Governmental Unit Is