A city receives a donation of land from one of its citizens to be ...

[Melani1276]

A city receives a donation of land from one of its citizens to be used as a park. How should the donation be recognized by the government?
 
  A. In the General Fund as a Special Item-Donation and in the General Capital Assets accounts.
  B. In the General Fund an Other Financing Source-Donation and in the General Capital Assets accounts.
  C. Only in the General Fund as Revenues-Other.
  D. Only in the General Capital Assets accounts.

Question 2

Prepaid expenses are an example of an expense.
 a. True
  b. False
 
   Indicate whether the statement is true or false

[bhavsar]

Answer to Question 1

D

Answer to Question 2

False

[Melani1276]

Thanks for the timely response, appreciate it

[mjenn52]

Great answer, keep it coming