Assume a government reported $300,000 in capital outlay expenditures in the governmental fund Statement of Revenues, Expenditures, and Changes in Fund Balances. Secondly, assume current year depreciation of capital assets amounted to $250,000, in the governmental activities column in the Statement of Activities. Those adjustments would cause a decrease of $50,000 when preparing the reconciliation between the change in governmental fund balances to the change in net position of governmental activities in the Statement of Activities.
Answer the following statement true (T) or false (F)
False
The reconciliation begins with Net change in fund balance which would be increased by the amount of the capital outlay and decreased by the amount of the depreciation expense.
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Honi is not a resident of Iowa although her website can be accessed by residents of that state. Jean files a suit against Honi in an Iowa state court. The court is most likely to have jurisdiction over Honi if Jean’s claim arises from
A. minimum contacts between Honi and any Iowa resident. B. substantial business between Jean and Honi through Honi’s website. C. no interactivity between Honi and any Iowa resident through Honi’s website. D. the Internet’s capacity to bypass boundaries.
A union with strong _______________________________ can impose significant costs on management through a strike.
Fill in the blank(s) with the appropriate word(s).
Which sentence expresses numbers correctly?? A) ?The company replaced 5 twenty-watt incandescent bulbs with economical fluorescent bulbs
B) ?We require at least 150, 20-page journals for the conference. C) Andrew stored his research files on one 3-gigabyte drive.
In Fordyce Bank and Trust v. Bean Timberland, the bank lent Bean money to buy timber from landowners. Bean gave the bank security interests in the timber, which he sold to lumber companies that milled the logs into lumber. When Bean defaulted on the loan, the bank tried to collect from the lumber companies because it had a secured interest in the timber. The courts held that the bank:
a. gets nothing from the timber companies, they were not responsible for the security interests and breached no duty to the bank b. collect the unpaid balance of the loan from the timber companies, depending on how much secured timber they bought from Bean c. collect the unpaid balance of the loan from the timber companies, which are each jointly and severally responsible under UCC 4-320, which sets strict standards for security interests d. collect the unpaid balance of the loan from the timber companies only if it can show that the companies had been notified by the bank each time they accepted timber from Bean e. none of the other choices