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Author Question: The accounting equation for a special revenue fund is A. Assets Liabilities = Net Position. B. ... (Read 82 times)

dalyningkenk

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on: Jul 6, 2018
The accounting equation for a special revenue fund is
 
  A. Assets  Liabilities = Net Position.
  B. Financial Assets + Deferred Outflows  Related Liabilities  Deferred Inflows = Fund Balance.
  C. General Capital Assets  Unmatured General Long-Term Liabilities = Net Assets.
  D. Current Assets = Current Liabilities.

Question 2

An X below the total amount of the Other Accounts column in the Cash Payment journal means
 a. The column is in balance.
   b. The column needs to be posted to the ledger.
   c. Do not post the column total.
   d. All checks posted are accounted for.


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Heffejeff

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

B

Answer to Question 2

c


dalyningkenk

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Reply 2 on: Jul 6, 2018
Great answer, keep it coming :)

Zebsrer

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Reply 3 on: Yesterday
Excellent

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