Examples of temporary accounts are supplies and prepaid expenses ...

[audie]

Examples of temporary accounts are supplies and prepaid expenses which are in the ledger for just a short time before they expire.
 a. True
  b. False
 
   Indicate whether the statement is true or false

Question 2

The General Fund paid 4,000 to the Internal Service Fund for services rendered. Which of the following statements accurately reflects the reporting effects of the transaction?
 
  A. The Internal Service Fund will report revenues of 4,000.
  B. The Internal Service Fund will report capital contributions of 4,000.
  C. The Internal Service will report a transfer in of 4,000.
  D. The Internal Service Fund will record a direct adjustment to unrestricted net position.

[ryansturges]

Answer to Question 1

False

Answer to Question 2

A

[audie]

Wow, this really help

[Dnite]

Thanks for the timely response, appreciate it