At the time a government levies the property tax,an allowance for uncollectible property taxes is established so that

Question

Quizplus · Accepted Answer

By establishing an allowance for uncollectible property taxes, the government can report property tax revenues at a net collectible amount, which reflects the amount they expect to actually collect from taxpayers. This helps to provide a more accurate picture of the government’s financial position and ensures that financial statements reflect a true and fair view of the amount owed and the amount expected to be collected.

At the Time a Government Levies the Property Tax,an Allowance