Author Question: The county collects property taxes for both itself and on behalf of the three municipalities within ... (Read 51 times)

Kikoku · **on:** Jul 5, 2018

The county collects property taxes for both itself and on behalf of the three municipalities within its borders. If the county collected 7,000 during the month of municipal taxes, the county would

a. report revenues of 7,000
b. report revenues and expenses of 7,000
c. report an increase in equity it the agency fund of 7,000
d. None of the above.
e. Both items a and c.

Question 2

Accounts in the ledger are usually maintained in alphabetical order.
a. True
b. False

Indicate whether the statement is true or false