« previous next »

Author Question: What is the distinction between Private Purpose Trust Funds and Permanent Funds? a. Private ... (Read 71 times)

Capo

  • Hero Member
  • *****
  • Posts: 545
on: Jul 5, 2018
What is the distinction between Private Purpose Trust Funds and Permanent Funds?
 
  a. Private Purpose Trust Funds account on the modified accrual basis; Permanent Funds account on the full accrual basis
  b. The beneficiaries of Private Purpose Trust Funds are outside the government; the beneficiaries of Permanent Funds are the reporting government or its citizenry
  c. Private Purpose Trust Funds are governmental fund types; Permanent Funds are fiduciary fund types
  d. Investments of Private Purpose Trust Funds are valued at cost; investments of Permanent Funds are valued at fair value

Question 2

The original cost of an asset added to its salvage value represents the depreciable cost of an asset.
 a. True
   b. False
   Indicate whether the statement is true or false


jackie

  • Sr. Member
  • ****
  • Posts: 324
Reply #1 on: Jul 5, 2018
Answer to Question 1

b

Answer to Question 2

False


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

Did you know?

Always store hazardous household chemicals in their original containers out of reach of children. These include bleach, paint, strippers and products containing turpentine, garden chemicals, oven cleaners, fondue fuels, nail polish, and nail polish remover.

Did you know?

GI conditions that will keep you out of the U.S. armed services include ulcers, varices, fistulas, esophagitis, gastritis, congenital abnormalities, inflammatory bowel disease, enteritis, colitis, proctitis, duodenal diverticula, malabsorption syndromes, hepatitis, cirrhosis, cysts, abscesses, pancreatitis, polyps, certain hemorrhoids, splenomegaly, hernias, recent abdominal surgery, GI bypass or stomach stapling, and artificial GI openings.

Did you know?

In 2012, nearly 24 milliion Americans, aged 12 and older, had abused an illicit drug, according to the National Institute on Drug Abuse (NIDA).

Did you know?

Excessive alcohol use costs the country approximately $235 billion every year.

The black-capped chickadee is a permanent resident in biomes with harsh winter conditions. The black-capped chickadee is a permanent resident in biomes with harsh winter conditions.
Deciduous and permanent teeth: (A) deciduous teeth, with the age at eruption given in months; (B) ... Deciduous and permanent teeth: (A) deciduous teeth, with the age at eruption given in months; (B) ...
Private Practice Massage Therapy Business Plan Private Practice Massage Therapy Business Plan
The Tōhoku earthquake: shaking Japan’s trust in nuclear power The Tōhoku earthquake: shaking Japan’s trust in nuclear power
Relationship between Trust and Investment Relationship between Trust and Investment
Typical sequence of tooth eruption for both deciduous and permanent teeth Typical sequence of tooth eruption for both deciduous and permanent teeth
Video: Types of Shock (Part 2 of 2)

For a complete list of videos, visit our video library