Author Question: For the previous problem, how should the grant be reported in the statement of revenues, expenses, ... (Read 73 times)

kaid0807 · **on:** Jul 6, 2018

For the previous problem, how should the grant be reported in the statement of revenues, expenses, and changes in net assets?

a. Capital contribution of 1,500,000
b. Operating revenues of 1,500,000
c. Nonoperating revenues of 1,500,000
d. Special item of 1,500,000

Question 2

The current ratio would probably be of most interest to
a. creditors.
b. management.
c. the owner.
d. customers.
e. the Internal Revenue Service.