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Author Question: Under the modified cash basis of accounting, adjustments are made only for prepaid items and ... (Read 78 times)

NguyenJ

  • Hero Member
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  • Posts: 516
on: Jul 5, 2018
Under the modified cash basis of accounting, adjustments are made only for prepaid items and depreciation on plant and equipment.
 a. True
   b. False
   Indicate whether the statement is true or false

Question 2

Proprietary fund net position must be reported in which three elements?
 
  a. nonexpendable, restricted, and unrestricted
  b. net investment in capital assets, restricted, and unrestricted
  c. restricted, committed and unrestricted
  d. additional- paid-in-capital, restricted, and unrestricted
  e. restricted, committed, assigned


amit

  • Sr. Member
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  • Posts: 364
Reply #1 on: Jul 5, 2018
Answer to Question 1

True

Answer to Question 2

b


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