In the government-wide statement of net assets, interfund ...

[jake]

In the government-wide statement of net assets, interfund receivables and payables
 
  a. should not be reported.
  b. should only be reported for balances payable between governmental activities and business-type activities.
  c. eliminated in the total primary government column.
  d. Both items b and c

Question 2

Net purchases is equal to
 a. Purchases minus Purchases Returns and Allowances plus Purchases Discounts.
  b. Purchases plus Purchases Returns and Allowances plus Purchases Discounts.
  c. Purchases minus Purchases Returns and Allowances minus Purchases Discounts.
  d. Purchases plus Freight In minus Purchases Discounts.
  e. Purchases minus Freight In plus Purchases Returns and Allowances.

[aliotak]

Answer to Question 1

D

Answer to Question 2

C

[jake]

Thanks for the timely response, appreciate it

[yeungji]

Excellent