Under GASB standards, where are nonmajor funds reported?
A. In aggregate amounts in a single column in the fund financial statements.
B. In the government-wide financial statements.
C. In a note disclosure following the financial statements.
D. In the management's discussion and analysis preceding the financial statements.
Answer: A
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On January 1, 2017, Old World Company purchased $300,000 of ten-year 10% bonds of New Company for $340,260. Interest is payable annually. The effective yield on the investment is 8%. What is the balance in Old World's investment in held-to-maturity debt securities account (rounded to the nearest dollar, if necessary) at December 31, 2018?
A) $343,039 B) $360,260 C) $337,481 D) $334,480
The accounting for employee stock options involves the firm debiting _____ and crediting _____ for the amortized amount of the fair value of the stock options on the date of the grant over the requisite service period
a. Compensation Expense; Additional Paid-In Capital (Stock Options) b. Stock Option Expense; Additional Paid-In Capital (Stock Options) c. Stock Option Expense; Retained Earnings d. Compensation Expense; Retained Earnings e. Compensation Expense; Common Stock
Which of the following rules provides that an accountant is liable only for negligence to third parties who are members of a limited class of intended users of the client's financial statements?
A) Section 552 of the Restatement (Second) of Torts B) the foreseeability standard C) the Ultramares doctrine D) due diligence defense
________ is installed into special, read-only memory of devices like printers and print servers or devices used for various types of communication.
A. Firmware B. Application software C. AIX kernel D. Vertical-market software E. Spyware