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Author Question: Which of the following is true about the revenue journal? a. Cash revenues and revenues on account ... (Read 53 times)

fagboi

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on: Jul 5, 2018
Which of the following is true about the revenue journal?
 a. Cash revenues and revenues on account are recorded in the revenue journal.
  b. Only cash revenues are recorded in the revenue journal.
  c. Only revenues on account are recorded in the revenue journal.
  d. Unearned revenues are also recorded in the revenue journal.

Question 2

Showing the amount and nature of donor-imposed restrictions on the statement of net assets helps financial statement readers to assess a not-for-profit organization's
 
  a. corporate responsibility
  b. budgetary compliance
  c. financial flexibility
  d. liquidity


ricroger

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

c

Answer to Question 2

c


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