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

Author Question: A governmental fund has total liabilities in excess of its total assets at the end of the fiscal ... (Read 27 times)

Sportsfan2111

  • Hero Member
  • *****
  • Posts: 585
on: Jul 5, 2018
A governmental fund has total liabilities in excess of its total assets at the end of the fiscal year. It has no deferred resource inflows or outflows. Which of the following statements is always true?
 
  a. fund balance is negative
  b. cash is less than short-term receivables
  c. payables exceed receivables
  d. payables exceed cash

Question 2

Deferred expenses that benefit a relatively short period of time are listed on the balance sheet as current assets.
 a. True
  b. False
 
   Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

bpool94

  • Sr. Member
  • ****
  • Posts: 354
Reply #1 on: Jul 5, 2018
Answer to Question 1

a

Answer to Question 2

True


Sportsfan2111

  • Member
  • Posts: 585
Reply 2 on: Jul 5, 2018
Excellent

mammy1697

  • Member
  • Posts: 341
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

The people with the highest levels of LDL are Mexican American males and non-Hispanic black females.

Did you know?

There are approximately 3 million unintended pregnancies in the United States each year.

Did you know?

Once thought to have neurofibromatosis, Joseph Merrick (also known as "the elephant man") is now, in retrospect, thought by clinical experts to have had Proteus syndrome. This endocrine disease causes continued and abnormal growth of the bones, muscles, skin, and so on and can become completely debilitating with severe deformities occurring anywhere on the body.

Did you know?

Your chance of developing a kidney stone is 1 in 10. In recent years, approximately 3.7 million people in the United States were diagnosed with a kidney disease.

Did you know?

Drug-induced pharmacodynamic effects manifested in older adults include drug-induced renal toxicity, which can be a major factor when these adults are experiencing other kidney problems.

Lymphatic vessels (green) pick up excess tissue fluid, purify it in lymph nodes, and return it to th Lymphatic vessels (green) pick up excess tissue fluid, purify it in lymph nodes, and return it to th
Lymphatic vessels pick up excess tissue fluid, purify it in the lymph nodes, and then return it to t Lymphatic vessels pick up excess tissue fluid, purify it in the lymph nodes, and then return it to t
The effective temperature, or black body temperature, of the Sun (5777 K) is the temperature a black The effective temperature, or black body temperature, of the Sun (5777 K) is the temperature a black
Total Fertility Rate in Japan: Actual versus Forecast Total Fertility Rate in Japan: Actual versus Forecast
The fiscal policy to counter an inflationary gap is a(n) The fiscal policy to counter an inflationary gap is a(n)
The total weight of Peter, David and Henry is 123 kg, Peter is 15 kg heavier than David. David ... The total weight of Peter, David and Henry is 123 kg, Peter is 15 kg heavier than David. David ...
Video: Gastrulation: cross section of the frog

For a complete list of videos, visit our video library