Which of the following items is not recognized as revenue by a governmental unit?
A) sales tax proceeds
B) property tax levies
C) bond proceeds
D) grants received from other governmental units

Question

Quizplus · Accepted Answer

Property tax levies and sales tax proceeds are both forms of taxation revenue, grants received from other governmental units are considered intergovernmental revenue, and bond proceeds are considered financing revenue. However, bond proceeds are not recognized as revenue, but rather as a liability to be repaid in the future.

Which of the Following Items Is Not Recognized as Revenue