Asked by Gabrielle Richard on Jun 26, 2024

verifed

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.
verifed

Verified Answer

NV
Naresh VeeravalliJun 29, 2024
Final Answer :
A special revenue fund should be used.