All capital assets acquired by or used by a fund should be reported in the fund balance sheet or statement of net position.
Answer the following statement true (T) or false (F)
False
You might also like to view...
A short-term usually spans ______ while a long-term goal typically spans
A. 1 month; 3 months. B. 3 months; 1 year. C. 12 months; 1 to 5 years. D. 2 weeks; 6 months. E. 3 years; 10 years.
If bonds were initially issued at a discount, the interest expense on the bonds calculated using the effective interest method will
a. decrease as the bonds approach their maturity date. b. increase as the bonds approach their maturity date. c. remain constant throughout the bonds' life. d. fluctuate throughout the bonds' life.
A principal disadvantage of structured questions is that potential for interviewer bias is high
Indicate whether the statement is true or false
Consider each of the accounts listed in the table below.Required: Indicate how the balance of each account will be increased and decreased by entering the word "Debit" or "Credit" into the appropriate column. AccountIncreased byDecreased by1)Accounts receivable??2)Service revenue??3)Common stock??4)Cash??5)Salaries expense??6)Notes payable??7)Dividends??8)Prepaid rent??
What will be an ideal response?