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Author Question: Which of the following financial statements reports information as of a specific date? a. income ... (Read 132 times)

gbarreiro

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on: Jul 5, 2018
Which of the following financial statements reports information as of a specific date?
 a. income statement
  b. statement of owner's equity
  c. statement of cash flows
  d. balance sheet

Question 2

If an expenditure was inadvertently charged to the General Fund instead of the appropriate Special Revenue Fund, what effect would the correction of this error later in the same fiscal year have on the General Fund?
 
  A. An entry would be made directly to the General Fund's fund balance to correct the error.
  B. Revenues would be increased.
  C. Expenditures would be decreased.
  D. Transfers in would be increased.


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Bison

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

d

Answer to Question 2

C


gbarreiro

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

strudel15

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

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