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Author Question: The total on the Accounts Payable Creditor Balances report at January 31, the end of the first month ... (Read 159 times)

Charlie

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on: Jul 5, 2018
The total on the Accounts Payable Creditor Balances report at January 31, the end of the first month ofoperations, agrees with the total of the Accounts Payable debit column in the cash payments journal for the sameperiod.
 a. True
  b. False
 
   Indicate whether the statement is true or false

Question 2

A city's General Fund makes a contribution of 800,000 to an Internal Service Fund (ISF) so that the ISF can operate. How should the ISF report the contribution?
 
  a. as operating revenue
  b. as nonoperating revenue
  c. as a transfer after operating income but before change in net position
  d. as a direct addition to fund net position


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ririgirl15

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

False

Answer to Question 2

c


Charlie

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Reply #2 on: Jul 5, 2018
Correct answers!


ririgirl15

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Reply #3 on: Jul 5, 2018
Great! Please up vote :D


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