Author Question: Generally, subsidiary ledgers are used for general ledger accounts that consist of a large number of ... (Read 120 times)

sheilaspns · **on:** Jul 5, 2018

Generally, subsidiary ledgers are used for general ledger accounts that consist of a large number of individual items.
a. True
b. False

Indicate whether the statement is true or false

Question 2

Under which of the following circumstances must an Enterprise Fund be used?

a. when its activities are partially financed with advances from the general fund
b. when its activities are financed with debt that is secured solely by the full faith and credit of the related primary government
c. when its activities are financed with debt that is secured solely by a pledge of the net revenues from the charges made by the activity
d. when its activities are financed in such a way that all costs except capital costs are covered.