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Author Question: A city receives a donation of land from one of its citizens to be used as a park. How should the ... (Read 124 times)

Melani1276

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on: Jul 5, 2018
A city receives a donation of land from one of its citizens to be used as a park. How should the donation be recognized by the government?
 
  A. In the General Fund as a Special Item-Donation and in the General Capital Assets accounts.
  B. In the General Fund an Other Financing Source-Donation and in the General Capital Assets accounts.
  C. Only in the General Fund as Revenues-Other.
  D. Only in the General Capital Assets accounts.

Question 2

Prepaid expenses are an example of an expense.
 a. True
  b. False
 
   Indicate whether the statement is true or false


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bhavsar

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

D

Answer to Question 2

False


Melani1276

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Reply 2 on: Jul 5, 2018
YES! Correct, THANKS for helping me on my review

mohan

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

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