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Author Question: Adjustments for accruals are needed to record a revenue that has been earned or an expense that has ... (Read 82 times)

dmcintosh

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Adjustments for accruals are needed to record a revenue that has been earned or an expense that has been incurred but not recorded.
 a. True
  b. False
 
   Indicate whether the statement is true or false

Question 2

The governing board of the city of Wheaton is also the governing board of Mosquito Abatement District, a business-type activity. Which of the following statements regarding the financial reporting options is false?
 
  a. The District is a blended component unit and is reported in both the fund financial statements and the government-wide financial statements.
  b. The District is not subject to major fund reporting criteria.
  c. The District may be reported in a separate column on the Proprietary Fund financial statements, but would most likely be reported within the business-type activities column in the government-wide financial statements.
  d. The District is not eligible to be reported as a discretely presented component unit.
  e. A budget-to-actual presentation is not required for the District.



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k2629

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Answer to Question 1

True

Answer to Question 2

B




dmcintosh

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Reply 2 on: Jul 5, 2018
Thanks for the timely response, appreciate it


Laurenleakan

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

 

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