Question

Which one of the following items is reported as a deferred inflow on the general fund's...

Which one of the following items is reported as a deferred inflow on the general fund's balance sheet?

A.

Property taxes collected in advance of the year they are available to spend.
B.

Short-term loan payable to a proprietary fund.
C.

Long-term investments.
D.

Interest owing on bonds, to be paid in three years.
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Answer #1

Ans is A

Property taxes collected in advance of the year they are available to spend.

Reason:-

They are collected in advance and hence,  deferred inflow.

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