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Author Question: When an account balance is not affected by an adjusting entry, the amount shown in the Trial Balance ... (Read 70 times)

dejastew

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on: Jul 5, 2018
When an account balance is not affected by an adjusting entry, the amount shown in the Trial Balance columns is extended directly to the Adjusted Trial Balance columns.
 a. True
   b. False
   Indicate whether the statement is true or false

Question 2

The GASB statement of cash flows is different from that required in the private sector in which of these ways?
 
  a. It excludes permanently restricted cash flows
  b. It excludes investing cash flows
  c. It requires reporting operating cash flows using the direct method
  d. It is not required unless the reporting entity issues debt.


TDubDCFL

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

True

Answer to Question 2

c


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