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Author Question: If the debit portion of an adjusting entry is to an asset account, then the credit portion must be ... (Read 50 times)

sc00by25

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on: Jul 5, 2018
If the debit portion of an adjusting entry is to an asset account, then the credit portion must be to a liability account.
 a. True
  b. False
 
   Indicate whether the statement is true or false

Question 2

The General Fund's share of its contribution to a Pension Trust Fund on behalf of the its employees would be reported by the General Fund as
 
  A. A transfer out.
  B. An other financing source.
  C. An expenditure.
  D. An other financing use.


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ririgirl15

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

False

Answer to Question 2

C


sc00by25

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Reply 2 on: Jul 5, 2018
Excellent

kishoreddi

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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