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Author Question: In discrete presentation, component unit a. funds are reported as the same type of funds of the ... (Read 22 times)

rlane42

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on: Jul 5, 2018
In discrete presentation, component unit
 
  a. funds are reported as the same type of funds of the primary government.
  b. funds are treated as Special Revenue Funds of the primary government since the resources can only be used for the component unit's programs.
  c. data is present in the government-wide statements separate from the primary government data.
  d. basic financial statements must always be included in the primary government's comprehensive annual financial report.

Question 2

The account type and normal balance of Unearned Revenue is
 a. revenue, credit
  b. expense, debit
  c. liability, credit
  d. asset, debit


Leostella20

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Reply #1 on: Jul 5, 2018
Answer to Question 1

C

Answer to Question 2

c


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