Brown ground beef in a large skillet over medium-high heat.

Drain off any excess grease.

Add water and taco seasoning mix to the skillet.

Stir well to combine.

Bring the mixture to a boil.

Stir in the uncooked white rice.

Sprinkle shredded cheddar cheese over the rice mixture.

Cover the skillet.

Reduce heat to low and cook for 5 minutes, or until rice is tender and cheese is melted.

Top with crushed tortilla chips, shredded lettuce, chopped tomato, or sour cream, if desired.