This topic contains a solution. Click here to go to the answer

Author Question: When services are performed for which payment will be received later, accounts receivable increases. ... (Read 86 times)

rachel9

  • Sr. Member
  • ****
  • Posts: 495
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.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

al

  • Sr. Member
  • ****
  • Posts: 344
Answer to Question 1

True

Answer to Question 2

A





 

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Did you know?

When blood is exposed to air, it clots. Heparin allows the blood to come in direct contact with air without clotting.

Did you know?

Looking at the sun may not only cause headache and distort your vision temporarily, but it can also cause permanent eye damage. Any exposure to sunlight adds to the cumulative effects of ultraviolet (UV) radiation on your eyes. UV exposure has been linked to eye disorders such as macular degeneration, solar retinitis, and corneal dystrophies.

Did you know?

The training of an anesthesiologist typically requires four years of college, 4 years of medical school, 1 year of internship, and 3 years of residency.

Did you know?

As of mid-2016, 18.2 million people were receiving advanced retroviral therapy (ART) worldwide. This represents between 43–50% of the 34–39.8 million people living with HIV.

For a complete list of videos, visit our video library