Property Tax
101
101
What is the effective date taxable property is valued by the assessor; a snapshot in time?
Lien date
What is An Excel workbook that provides a platform for the standardization of budget preparation and review among Grant Thornton offices, while still maintaining flexibility to accommodate most engagements; used to estimate time and fees on a project?
Form 1
What is the term for an asset which is reported, but no longer onsite?
Ghost asset
What present was given on the 6th day of Christmas?
Six geese a laying
What was the real name of the character Tim Allen plays in The Santa Clause?
Scott Calvin
What is the value set on real and personal property as a basis for levying taxes?
Assessed value
Who is the person responsible for the administrative day-to-day tasks for a project and supervises personnel working on the assignment?
Assignment Administrator (AA)
What are the three approaches to value?
Cost, Income, and Sales
What country did eggnog originate from?
England
Which Hollywood actor played six different roles in The Polar Express?
Tom Hanks
What is a unique identifier used by jurisdiction to label distinct land boundaries?
Parcel
What are fees and expenses billed to a client, but not yet collected?
Accounts Receivable (A/R)
What are three characteristics to consider in the sales comparison approach?
Age, location, property type, size, acreage, condition, etc.
What did Frosty The Snowman do when a magic hat was placed on his head?
He began to dance around
How many ghosts show up in A Christmas Carol?
Four
What are assets which do not have a physical existence, but may be subject to property tax?
Intangible assets
What are fees and expenses posted to an engagement but not yet billed to the client?
Work in Progress (WIP)
What is the loss in value due to an impairment in utility and/or desirability that is caused by factors external to the asset
Economic Obsolescence
What are four famous reindeer names?
Rudolph, Dasher, Dancer, Prancer, Vixon, Comet, Cupid, Donner, and Blitzen
What was the highest-grossing Christmas movie of all time?
Home Alone
What are the three components of Full-service compliance outsourcing (Full Service)?
Personal property return preparation, Assessment Review, and Tax payment facilitation
What is the measure of time it takes between when time is charged and billed, and from when it is billed and when cash is collected?
Days Sales Outstanding (DSO)
What is the factor used to convert income into value in the income approach?
Cap rate
Where is the world's largest Menorah located?
New York City
In the movie Elf, what was the first rule of The Code of Elves?
Treat every day like Christmas