Question

Based on the information in the previous scenario, how much should the village report as deferred revenues property taxes in its 2019 general fund financial statement?

a) $0 (No deferred revenues)
b) $27 (Total cost of dog food)
c) $40.50 (Cost of feeding the dog for 27 days)
d) None of the above

Answer 1

The correct answer is d) None of the above, as the provided information does not reference the correct amount to report as deferred revenues property taxes.

Step-by-step explanation:

Based on the information in the previous scenario, there is no direct reference to the amount that should be reported as deferred revenues property taxes in the village's 2019 general fund financial statement. The passages provided discuss potential benefits of a tax to townspeople, theoretical spending limits, and unrelated financial data regarding a yoga center. Hence, the correct answer to the question would appear to be d) None of the above, as none of the amounts listed directly relate to the deferred revenues for property taxes that should be reported by the village.