An injunction is a court order directing a person to do what they promised to do
a. True
b. False
Indicate whether the statement is true or false
False
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A building with an appraisal value of $167,000 is made available at an offer price of $162,000 . The purchaser acquires the property for $25,000 in cash, a 90-day note payable for $75,000, and a mortgage amounting to $65,000 . The cost basis recorded in the buyer's accounting records to recognize this purchase is
a. $167,000 b. $162,000 c. $165,000 d. $140,000
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What are the benefits and limitations of activity-based costing (ABC) systems?
Equipment that had been acquired several years ago by a special revenue fund at a cost of $40,000 was sold for $15,000 cash. Accumulated depreciation of $30,000 existed at the time of the sale. The journal entry to be made in the governmental activities journal will include all of the following except:
A. A credit to Equipment for $40,000. B. A debit to Cash for $15,000. C. A debit to Accumulated Depreciation for $30,000. D. A credit to Other Financing Sources for $5,000.