The principal ledger that contains all the balance sheet and ...

[imowrer]

The principal ledger that contains all the balance sheet and income statement accounts is the general ledger.
 a. True
  b. False
 
   Indicate whether the statement is true or false

Question 2

A capital project is completed, but 500,000 remains in a capital projects fund. How should the government use the 500,000 remaining in the capital projects fund?
 
  a. the government should retain the remaining funds in the capital projects fund for a potential future capital project
  b. the government should consult provisions of relevant grant and bond issues, which may provide guidance regarding its use
  c. the first-in, first out basis
  d. residual amounts in a capital projects fund after completion of a project must be transferred to a debt service fund

[lauravaras]

Answer to Question 1

True

Answer to Question 2

b

[imowrer]

YES! Correct, THANKS for helping me on my review

[kishoreddi]

Thanks for the timely response, appreciate it