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Author Question: A contra-asset is deducted from the related asset on the balance sheet. a. True b. False ... (Read 173 times)

jrubin

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  • Posts: 552
on: Jul 5, 2018
A contra-asset is deducted from the related asset on the balance sheet.
 a. True
   b. False
   Indicate whether the statement is true or false

Question 2

Which of the following accounts would be least likely to appear in an Enterprise Fund statement of net position (balance sheet)?
 
  a. cash and cash equivalents
  b. general obligation bonds payable
  c. net investment in capital assets
  d. equipment acquired under capital leases


duke02

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  • Posts: 312
Reply #1 on: Jul 5, 2018
Answer to Question 1

True

Answer to Question 2

b


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