« previous next »

Author Question: Which of the following statements accurately describes why the statement of revenues, expenses and ... (Read 51 times)

scienceeasy

  • Hero Member
  • *****
  • Posts: 565
on: Jul 5, 2018
Which of the following statements accurately describes why the statement of revenues, expenses and changes in net position for an Internal Service Fund differs slightly from one for an Enterprise Fund?
 
  A. Internal Service Funds do not report operating revenue.
  B. Internal Service Funds report other financing sources and uses.
  C. Internal Service Funds do not report depreciation expense.
  D. The statement of revenues, expenses and changes in net position is formatted the same for Enterprise Funds and Internal Service Funds.

Question 2

Assets, liabilities, and owner's capital are real accounts and do not get closed at the end of the period.
 a. True
  b. False
 
   Indicate whether the statement is true or false


coreycathey

  • Sr. Member
  • ****
  • Posts: 333
Reply #1 on: Jul 5, 2018
Answer to Question 1

D

Answer to Question 2

True


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

In 1886, William Bates reported on the discovery of a substance produced by the adrenal gland that turned out to be epinephrine (adrenaline). In 1904, this drug was first artificially synthesized by Friedrich Stolz.

Did you know?

Children of people with alcoholism are more inclined to drink alcohol or use hard drugs. In fact, they are 400 times more likely to use hard drugs than those who do not have a family history of alcohol addiction.

Did you know?

Famous people who died from poisoning or drug overdose include, Adolf Hitler, Socrates, Juan Ponce de Leon, Marilyn Monroe, Judy Garland, and John Belushi.

Did you know?

Your chance of developing a kidney stone is 1 in 10. In recent years, approximately 3.7 million people in the United States were diagnosed with a kidney disease.

Did you know?

The eye muscles are the most active muscles in the whole body. The external muscles that move the eyes are the strongest muscles in the human body for the job they have to do. They are 100 times more powerful than they need to be.

Which of the following statements is true of linkage? Which of the following statements is true of linkage?
A passenger train crosses Stony Creek Bridge in the Rocky Mountains in 1878. Railroads were importan A passenger train crosses Stony Creek Bridge in the Rocky Mountains in 1878. Railroads were importan
A typical bank statement. A typical bank statement.
Example of Reconciling a Bank Statement Example of Reconciling a Bank Statement
Example of Reconciling a Bank Statement Cont. Example of Reconciling a Bank Statement Cont.
Example of Reconciling a Bank Statement Cont. Example of Reconciling a Bank Statement Cont.
Video: The Hypothalamus: The Body's Thermostat (Human Thermostat)

For a complete list of videos, visit our video library