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Author Question: A General Fund receives an invoice from the Electric Utility Fund (an Enterprise Fund) for ... (Read 157 times)

jilianpiloj

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on: Jul 5, 2018
A General Fund receives an invoice from the Electric Utility Fund (an Enterprise Fund) for electricity provided by the Utility Fund. When it receives the invoice, what account should be debited in the General Fund?
 
  a. due from electric utility fund
  b. transfer in from electric utility fund
  c. expenditures - utility services
  d. due to electric utility fund

Question 2

The terms profit and loss statement or operating statement are sometimes used as synonyms for the balance sheet.
 a. True
   b. False
   Indicate whether the statement is true or false


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bassamabas

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

c

Answer to Question 2

False


jilianpiloj

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Reply 2 on: Jul 5, 2018
Thanks for the timely response, appreciate it

rachel

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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