Which of the following financial statement(s) reports both current and noncurrent assets and liabilities? Government-wide Statementof Net PositionGeneral Fund BalanceSheetA)NoYesB)NoNoC)YesNoD)YesYes
A. Choice A
B. Choice B
C. Choice C
D. Choice D
Answer: C
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Which of the following is the correct date format for the financial statement heading?
a. Balance sheet for the year ended June 30, 2016 b. Income statement at December 31, 2016 c. Balance sheet at December 31, 2016 d. Statement of retained earnings at December 31, 2016
Identify and describe three major marketing orientations in the last century
What will be an ideal response?
Employees earn vacation pay at a rate of one day per month. The company estimated and must expense $1,500 of accrued vacation benefits for the year. Which of the following is the necessary year-end adjusting entry to record accrued vacation benefits?
A. Debit Vacation Benefits Expense $1,500; credit Vacation Benefits Payable $1,500. B. Debit Prepaid Benefits Payable $1,500; credit Vacation Benefits Expense $1,500. C. Debit Payroll Tax Expense $1,500; credit Payroll Taxes Payable $1,500. D. Debit Prepaid Vacation Benefits $1,500; credit Vacation Benefits Payable $1,500. E. Debit Vacation Benefits Expense $1,500; credit Prepaid Vacation $1,500.
The use of dual rates in a cost allocation system assumes that common costs can be:
A. allocated based on a physical quantities measure. B. assigned to an investment responsibility center. C. traced directly to a specific division or manager. D. separated into their fixed and variable components.