Governmental funds recognize A. Expenses when the governmental ...

[justinmsk]

Governmental funds recognize
 
  A. Expenses when the governmental unit uses goods or services.
  B. Expenditures when the governmental unit incurs a liability for goods or services.
  C. Expenditures when the fund incurs a liability.
  D. Expenses when the fund assets are consumed.

Question 2

If total assets increased by 190,000 during a specific period and liabilities decreased by 10,000 during the sameperiod, the period's change in total owner's equity was a 200,000 increase.
 a. True
  b. False
 
   Indicate whether the statement is true or false

[Mollythedog]

Answer to Question 1

C

Answer to Question 2

True

[justinmsk]

TYSM

[mjenn52]

Thanks for the timely response, appreciate it