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Author Question: A government university that reports as a business-type special purpose government, purchases land ... (Read 81 times)

bucstennis@aim.com

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on: Jul 5, 2018
A government university that reports as a business-type special purpose government, purchases land for a planned dormitory by securing a 10-year bank loan. The entry to record the purchase and procurement of funding would include
 
  a. a DEBIT to cash.
  b. a CREDIT to notes payable.
  c. a DEBIT to expenditures.
  d. a CREDIT to other financing sources.
  e. Both items a and b.
  f. Both items c and d.

Question 2

Which category of funds is used to account for most of the day-to-day public services provided by a government?
 
  a. Fiduciary-type funds
  b. Enterprise-type funds
  c. Proprietary-type funds
  d. Governmental-type funds


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brbarasa

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

E

Answer to Question 2

d


bucstennis@aim.com

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Reply 2 on: Jul 5, 2018
YES! Correct, THANKS for helping me on my review

komodo7

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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