Author Question: The entry to purchase a one-year insurance policy for cash would be recorded in the cash payments ... (Read 123 times)

Shelles · **on:** Jul 6, 2018

The entry to purchase a one-year insurance policy for cash would be recorded in the cash payments journal in the
a. Cash Debit column and the Accounts Payable Debit column.
b. Other Accounts Debit column and the Cash Credit column.
c. Accounts Payable Debit column and the Cash Credit column.
d. Cash Debit column and the Other Accounts Credit column.
e. Accounts Payable Debit column and the Other Accounts Credit column.

Question 2

The data presented in defined benefit pension plan financial statements

a. include amounts based on actuarially determined information computed using a standardized pension measurement.
b. include amounts based on actuarially determined information computed using the same method that the government uses for funding purposes.
c. include amounts based on actuarially determined information computed using the same method that the government uses for funding purposes if that information is computed using certain guidelines established in the standards.
d. do not include any actuarially determined information.