Question: 1 a city levies property taxes to use for general...
(1) a city levies property taxes to use for general operations of the city in the amount of $1,000,000 for calendar year 2017. it expects to collect $950,000 during the year, $30,000 during the first 60 days of 2018, and $15,000 during the remainder of 2018. it does not expect to collect the remaining $5,000. how much property tax revenue should it recognize for the year 2017?
(2) which of the following is not associated with government and not-for-profit organization?
a- the goal of accounting is to measure net income.
b- goods and/ or services provided maybe priced at / or below cost.
c- the organization purpose is to provide goods and / or services to its constituents .
d- resource providers often do not receive goods and / or services equal in value to the amount of resources they provide.
(3) the primary purpose of fund accounting is?
a- to keep track of long term assets and liabilities related to governmental activities.
b- to segregate an organization's resources according to the purpose(s) for which they are to be used.
c- to provide expenditure authority for a government or not-for-profit organization.
d- all of the above are major purposes of using funds.