A general folder is used to store records to and from correspondents with a small volume of records that does not require an individual folder or folders
a. True
b. False
Indicate whether the statement is true or false
True
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A coal mine was acquired at a cost of $4,000,000 . No salvage value was expected and the estimated number of units available for production was 4,000,000 tons. During the first year, 440,000 tons of coal was mined and sold. The depletion expense for the first year was
a. $44,200. b. $440,000. c. $4,000,000. d. $4,400,000.
Net income occurs when revenues exceed expenses.
Answer the following statement true (T) or false (F)
In blending problems, if a quality constraint involves a quotient, then the problem will be nonlinear
a. True b. False Indicate whether the statement is true or false
Which of the following is not a characteristic of a fund as defined by GASB standards?
A. A fiscal entity. B. A self-balancing set of accounts. C. A reporting entity. D. An accounting entity.