Which of the following is a difference between enterprise funds and internal service funds?
A. The customers who primarily benefit from the fund's service.
B. The measurement focus on economic resources for enterprise funds and current financial resources for internal service funds.
C. The use of cost accounting by enterprise funds but not internal service funds.
D. The number of fund financial statements required.
Answer: A
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Childers Company, which uses a perpetual inventory system, has an established petty cash fund in the amount of $500. The fund was last reimbursed on November 30. At the end of December, the fund contained the following petty cash receipts: December 4Freight charge for merchandise purchased$56.00?December 7Delivery charge for shipping to customer$80.00?December 12Purchase of office supplies$45.00?December 18Donation to charitable organization$64.00?If, in addition to these receipts, the petty cash fund contains $246.00 of cash, the journal entry to reimburse the fund on December 31 will include:
A. A credit to Cash Over and Short of $9.00. B. A debit to Transportation-In of $101. C. A credit to Cash of $254.00. D. A debit to Petty Cash of $101. E. A credit to Office Supplies of $80.
To avoid double counting P's investment in S, P must eliminate
a. the investment in S and S's separate company shareholders' equity. b. all debt on S's separate company financial statements. c. any dividends paid against the cash account. d. all intercompany transactions. e. all of the above.
Public relations counselor James Lukaszewski has described crisis as "________."
A) hidden opportunity B) uncomfortable scrutiny C) security within danger D) unplanned visibility
Assign information to the ______________________________
a. places it fits b. information database c. proper category d. information officer