Author Question: Which of the following should be reported in the statement of revenues, expenditures, and changes in ... (Read 26 times)

olgavictoria · **on:** Jul 6, 2018

Which of the following should be reported in the statement of revenues, expenditures, and changes in fund balance of a General Fund?

A. A short-term loan to another governmental fund.
B. A long-term loan to another governmental fund.
C. Repayment of a short-term loan from a bank.
D. Repayment of a long-term loan from a bank.

Question 2

The main objective for all business is to maximize unrealized profits.
a. True
b. False

Indicate whether the statement is true or false