Asked by Gabrielle Richard on Jun 26, 2024
Verified
A county enacted a special tax levy and the money must be used to buy unused farmland for environmental preservation. What kind of fund should be used to record the revenues generated by the tax?
Special Tax Levy
A tax imposed for a specific purpose, often by local or state governments, beyond regular taxing mechanisms.
Environmental Preservation
Actions and policies aimed at protecting the natural environment from degradation and pollution to ensure its health and sustainability for future generations.
- Gain insight into the several kinds of funds utilized within governmental accounting and their specific functions.
Verified Answer
NV
Learning Objectives
- Gain insight into the several kinds of funds utilized within governmental accounting and their specific functions.