Question $28$

$2\mathrm{.}5$

How should taxes collected in advance in fiscal year $201$ be reported in the fiseal year $201$ General fund financial statements?

As a liability on the balance sheet.

As a deferred inflow on the balance sheet.

As an other financing source on the statement of revenues, expenditures, and changes in fund balance.

As revenue on the statement of revenues, expenditures, and changes in fund balance.