An entity is likely to be a governmental entity if a controlling ...

[Tirant22]

An entity is likely to be a governmental entity if a controlling majority of its governing body is appointed by governmental officials.
 
  Indicate whether the statement is true or false

Question 2

In a perpetual inventory system, the Merchandise Inventory account is only used to reflect the beginning inventory.
 a. True
  b. False
 
   Indicate whether the statement is true or false

[strudel15]

Answer to Question 1

True

Answer to Question 2

False

[Tirant22]

TYSM

[debra928]

Thanks for the timely response, appreciate it