A payment made by a city-owned utility to the General Fund of the city in lieu of taxes is an example of a transaction that is recorded in the governmental activities journal.
Answer the following statement true (T) or false (F)
True
You might also like to view...
Examples of a substantive goal are winning, beating the other party, or getting a settlement at any cost.
Answer the following statement true (T) or false (F)
Larceny relies on fear and force
a. True b. False Indicate whether the statement is true or false
On July 1 Olive Co. paid $7,500 cash for management services to be performed over a two-year period. Olive follows a policy of recording all prepaid expenses to asset accounts at the time of cash payment. On July 1 Olive should record:
A. A debit to Cash for $7,500 and a credit to an expense for $7,500. B. A debit to a prepaid expense and a credit to Cash for $7,500. C. A debit to an expense and credit to a prepaid expense for $7,500. D. A credit to a prepaid expense and a debit to Cash for $7,500. E. A debit to an expense and credit to Cash for $7,500.
If the payoff table contains expenses instead of revenues, then the optimistic criterion is Minimin
Indicate whether the statement is true or false