Author Question: Pass-through grants are accounted for A. Only in Agency Funds. B. By increasing or decreasing ... (Read 60 times)

Jipu 123 · **on:** Jul 6, 2018

Pass-through grants are accounted for

A. Only in Agency Funds.
B. By increasing or decreasing governmental fund assets and liabilities to reflect the agency relationshipno revenues are reported in the governmental fund.
C. As revenues and expenditures or expenses in the appropriate fund of the pass-through entity (primary recipient).
D. As other financing sources and other financing uses in the appropriate fund of the pass-through entity (primary recipient).

Question 2

The primary role of accounting is to determine the amount of taxes a business will be required to pay to taxingentities.
a. True
b. False

Indicate whether the statement is true or false