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Author Question: When services are performed for which payment will be received later, accounts receivable increases. ... (Read 57 times)

rachel9

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on: Jul 5, 2018
When services are performed for which payment will be received later, accounts receivable increases.
 a. True
   b. False
   Indicate whether the statement is true or false

Question 2

Assume that an Internal Service Fund purchases land on which to construct a new warehousing facility. The fund paid cash for 30 of the purchase price and financed the reminder with a loan from a local lending institution.
 
  The Internal Service Fund will
  A. Increase Net Investment in Capital Assets.
  B. Report capital outlay expenditures.
  C. Depreciate the cost of the land over its useful life.
  D. Record the land in the General Capital Assets accounts.


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al

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

True

Answer to Question 2

A


rachel9

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


al

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


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