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Author Question: The unit of measure concept a. is only used in the financial statements of manufacturing companies ... (Read 76 times)

ahriuashd

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on: Jul 6, 2018
The unit of measure concept
 a. is only used in the financial statements of manufacturing companies
  b. is not important when applying the cost concept
  c. requires that different units be used for assets and liabilities
  d. requires that economic data be reported in yen in Japan or dollars in the United States

Question 2

The Ruby Falls Independent School District receives significant payments in lieu of taxes from the federal government to reimburse the district for lost revenues because a military base, which is not subject to property tax, is within the district's
 
  boundaries. These payments should be reported as
  A. Other financing sources  transfer.
  B. Revenue.
  C. An extraordinary item.
  D. A special item.


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at

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Reply #1 on: Jul 6, 2018
Answer to Question 1

d

Answer to Question 2

B


ahriuashd

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Reply 2 on: Jul 6, 2018
YES! Correct, THANKS for helping me on my review

bblaney

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

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