This topic contains a solution. Click here to go to the answer

Author Question: The matching concept supports matching expenses with the related revenues. a. True b. False ... (Read 165 times)

sc00by25

  • Hero Member
  • *****
  • Posts: 596
The matching concept supports matching expenses with the related revenues.
 a. True
  b. False
 
   Indicate whether the statement is true or false

Question 2

A county uses an agency fund to collect property taxes for both itself and on behalf of the three municipalities within its borders. If the county collected 7,000 of municipal taxes during the month, what would be reported in the agency fund?
 
  A. Revenues of 7,000.
  B. Revenues of 7,000, offset by expenses of 7,000.
  C. An increase in equity in the agency fund of 7,000.
  D. An increase in assets of 7,000 and an increase in liabilities of 7,000.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

polinasid

  • Sr. Member
  • ****
  • Posts: 344
Answer to Question 1

True

Answer to Question 2

D




sc00by25

  • Member
  • Posts: 596
Reply 2 on: Jul 5, 2018
Thanks for the timely response, appreciate it


ryansturges

  • Member
  • Posts: 338
Reply 3 on: Yesterday
Wow, this really help

 

Did you know?

Atropine, along with scopolamine and hyoscyamine, is found in the Datura stramonium plant, which gives hallucinogenic effects and is also known as locoweed.

Did you know?

The most common childhood diseases include croup, chickenpox, ear infections, flu, pneumonia, ringworm, respiratory syncytial virus, scabies, head lice, and asthma.

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

Did you know?

The types of cancer that alpha interferons are used to treat include hairy cell leukemia, melanoma, follicular non-Hodgkin's lymphoma, and AIDS-related Kaposi's sarcoma.

Did you know?

There are more nerve cells in one human brain than there are stars in the Milky Way.

For a complete list of videos, visit our video library