« previous next »

Author Question: The historical cost principle allows for assets to be recorded at actual cost. a. True b. False ... (Read 101 times)

kellyjaisingh

  • Hero Member
  • *****
  • Posts: 540
on: Jul 5, 2018
The historical cost principle allows for assets to be recorded at actual cost.
 a. True
   b. False
   Indicate whether the statement is true or false

Question 2

Pursuant to law, a state agrees to reimburse a county 50 percent of the costs incurred by the county to maintain county roads, provided the county incurs no more than 800,000 in allowable costs.
 
  Allowable costs include accrued but unpaid salaries, but do not include encumbrances. For its calendar year 2012, the county's records show the following for its road maintenance program: cash disbursements - 780,000; accrued salaries payable -15,000; encumbrances - 10,000 . How much intergovernmental revenue should the county recognize in its government-wide financial statements?
   a. 390,000
   b. 397,500
   c. 400,000
   d. 402,500


jazzlynnnnn

  • Sr. Member
  • ****
  • Posts: 335
Reply #1 on: Jul 5, 2018
Answer to Question 1

True

Answer to Question 2

b


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

People often find it difficult to accept the idea that bacteria can be beneficial and improve health. Lactic acid bacteria are good, and when eaten, these bacteria improve health and increase longevity. These bacteria included in foods such as yogurt.

Did you know?

Calcitonin is a naturally occurring hormone. In women who are at least 5 years beyond menopause, it slows bone loss and increases spinal bone density.

Did you know?

As many as 28% of hospitalized patients requiring mechanical ventilators to help them breathe (for more than 48 hours) will develop ventilator-associated pneumonia. Current therapy involves intravenous antibiotics, but new antibiotics that can be inhaled (and more directly treat the infection) are being developed.

Did you know?

Chronic marijuana use can damage the white blood cells and reduce the immune system's ability to respond to disease by as much as 40%. Without a strong immune system, the body is vulnerable to all kinds of degenerative and infectious diseases.

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

A true albino squirrel. Note the pink eyes. A true albino squirrel. Note the pink eyes.
Early in the twentieth century, when malnutrition was common, companies such as this one advertised Early in the twentieth century, when malnutrition was common, companies such as this one advertised
Applying the FITT Principle to Each Exercise Component of Health-Related Physical Fitness Applying the FITT Principle to Each Exercise Component of Health-Related Physical Fitness
Does It Cost More to Eat Healthy? Does It Cost More to Eat Healthy?
Effects of Retrieval Practice on Predicted and Actual Memory Performance Effects of Retrieval Practice on Predicted and Actual Memory Performance
Historical gender roles in Canada Historical gender roles in Canada
Video: Audiology

For a complete list of videos, visit our video library