This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: You are calculating the quick ratio for the General Fund. The General Fund balance sheet contains ... (Read 133 times)

wenmo

  • Hero Member
  • *****
  • Posts: 540
on: Jul 5, 2018
You are calculating the quick ratio for the General Fund. The General Fund balance sheet contains the following captions: (1) cash; (2) cash equivalents; (3) taxes receivable; (4) inventory; (5) prepaid items; and (6) due from other funds.
 
  Which of these accounts will enter into the calculation?
   a. (1) and (2)
   b. (1), (2), and (3)
   c. (1), (2), (3), and (6)
   d. all six

Question 2

An account used with a related account to bring about a decrease in the net amount of the two account balances is called a(n)
 a. contra-account.
   b. expense account.
   c. adjusting account.
   d. revenue account.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

potomatos

  • Sr. Member
  • ****
  • Posts: 338
Reply #1 on: Jul 5, 2018
Answer to Question 1

a

Answer to Question 2

a


wenmo

  • Member
  • Posts: 540
Reply 2 on: Jul 5, 2018
Great answer, keep it coming :)

bblaney

  • Member
  • Posts: 323
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

As of mid-2016, 18.2 million people were receiving advanced retroviral therapy (ART) worldwide. This represents between 43–50% of the 34–39.8 million people living with HIV.

Did you know?

About 3.2 billion people, nearly half the world population, are at risk for malaria. In 2015, there are about 214 million malaria cases and an estimated 438,000 malaria deaths.

Did you know?

Stevens-Johnson syndrome and Toxic Epidermal Necrolysis syndrome are life-threatening reactions that can result in death. Complications include permanent blindness, dry-eye syndrome, lung damage, photophobia, asthma, chronic obstructive pulmonary disease, permanent loss of nail beds, scarring of mucous membranes, arthritis, and chronic fatigue syndrome. Many patients' pores scar shut, causing them to retain heat.

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Did you know?

You should not take more than 1,000 mg of vitamin E per day. Doses above this amount increase the risk of bleeding problems that can lead to a stroke.

Sodium Balance Sodium Balance
General structure of eukaryotic pre-rRNA transcription units General structure of eukaryotic pre-rRNA transcription units
A typical General Motors HEI coil installed in the distributor cap. When the coil or distributor cap ... A typical General Motors HEI coil installed in the distributor cap. When the coil or distributor cap ...
Carbon Isotope ratio Carbon Isotope ratio
The Concept of Water Balance The Concept of Water Balance
Fluid Balance Fluid Balance
Video: Stages of Mitosis - Prophase, Prometaphase, Metaphase, Anaphase & Telophase

For a complete list of videos, visit our video library