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Author Question: How much should the city report in its December 31, 2012, government-wide financial statements as ... (Read 56 times)

Melani1276

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on: Jul 5, 2018
How much should the city report in its December 31, 2012, government-wide financial statements as net position invested in capital assets, net of related debt?
 
  a. 70,000
  b. 60,000
  c. 58,333
  d. 10,000

Question 2

The business or professional person using the cash basis of accounting takes the view that there is no revenue until it is received in such a form that it can be spent.
 a. True
   b. False
   Indicate whether the statement is true or false


kingdude89

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

b


Answer to Question 2

True


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