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Author Question: Which basis of accounting must be used in presenting the actual column of the fund-level budgetary ... (Read 155 times)

sabina

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on: Jul 5, 2018
Which basis of accounting must be used in presenting the actual column of the fund-level budgetary comparison schedules for the General Fund and major Special Revenue Funds?
 
  a. the government's budgetary basis of accounting
  b. the modified accrual basis of accounting
  c. the full accrual basis of accounting
  d. the cash basis of accounting

Question 2

In completing the work sheet, what is the reason for adding the net income for the year to the Balance Sheet Credit column?
 a. Owner's equity is not up-to-date.
   b. Cash is not up-to-date.
   c. Owner's withdrawal is not up-to-date.
   d. Sales is not up-to-date.


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emily12345

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

a

Answer to Question 2

a


sabina

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Reply #2 on: Jul 5, 2018
Thank you :)


emily12345

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Reply #3 on: Jul 5, 2018
Happy to help you


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