Which of the following would offer the best evidence of owning real estate as of the balance sheet date?
A) Property insurance policies
B) Paid real estate tax bills
C) Acquisition documents
D) Cash disbursements register

Question

Quizplus · Accepted Answer

Paid real estate tax bills would provide the best evidence of owning real estate as it confirms that the entity has paid the taxes on the property they own. Property insurance policies could also be an indication of ownership, but it does not necessarily confirm ownership. Acquisition documents and cash disbursements register do not directly provide evidence of ownership.

Which of the Following Would Offer the Best Evidence of Owning