(1) a city levies property taxes to use for general operationsof the city in the amount of $1,000,000 for calendar year 2017. itexpects to collect $950,000 during the year, $30,000 during thefirst 60 days of 2018, and $15,000 during the remainder of 2018. itdoes not expect to collect the remaining $5,000. how much propertytax revenue should it recognize for the year 2017?
a- $1,000,000
b- $980,000
c- $995,000
d-$990,000
(2) which of the following is not associated with government andnot-for-profit organization?
a- the goal of accounting is to measure net income.
b- goods and/ or services provided maybe priced at / or belowcost.
c- the organization purpose is to provide goods and / orservices to its constituents .
d- resource providers often do not receive goods and / orservices equal in value to the amount of resources theyprovide.
(3) the primary purpose of fund accounting is?
a- to keep track of long term assets and liabilities related togovernmental activities.
b- to segregate an organization's resources according to thepurpose(s) for which they are to be used.
c- to provide expenditure authority for a government ornot-for-profit organization.
d- all of the above are major purposes of using funds.
