Author Question: Payment of office rent represents a decrease in a. a liability account. b. expenses. c. cash. ... (Read 113 times)

EY67 · **on:** Jul 5, 2018

Payment of office rent represents a decrease in
a. a liability account.
b. expenses.
c. cash.
d. a revenue account.

Question 2

Which of the following classifications of net position likely would be found on the statement of net position of a governmental university that reports as a business-type activity?

A. Temporarily restricted net position.
B. Unrestricted net position.
C. Permanently restricted net position.
D. Nonspendable net position.