Adjustments for accruals are needed to record a revenue that has ...

[dmcintosh]

Adjustments for accruals are needed to record a revenue that has been earned or an expense that has been incurred but not recorded.
 a. True
  b. False
 
   Indicate whether the statement is true or false

Question 2

The governing board of the city of Wheaton is also the governing board of Mosquito Abatement District, a business-type activity. Which of the following statements regarding the financial reporting options is false?
 
  a. The District is a blended component unit and is reported in both the fund financial statements and the government-wide financial statements.
  b. The District is not subject to major fund reporting criteria.
  c. The District may be reported in a separate column on the Proprietary Fund financial statements, but would most likely be reported within the business-type activities column in the government-wide financial statements.
  d. The District is not eligible to be reported as a discretely presented component unit.
  e. A budget-to-actual presentation is not required for the District.

[k2629]

Answer to Question 1

True

Answer to Question 2

B

[dmcintosh]

TYSM

[Perkypinki]

Excellent