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Author Question: The General Fund provides a recurring annual subsidy to the Mass Transit Enterprise Fund to keep bus ... (Read 102 times)

Zoey63294

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on: Jul 5, 2018
The General Fund provides a recurring annual subsidy to the Mass Transit Enterprise Fund to keep bus fares at a reasonable level. How should the General Fund report the subsidy in its financial statements?
 
  a. as an expenditure
  b. as a long-term advance
  c. as a transfer out
  d. as a reimbursement

Question 2

An increase in a revenue account may also result in an increase in the accounts receivable account.
 a. True
   b. False
   Indicate whether the statement is true or false


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Tabitha_2016

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

c

Answer to Question 2

True


Zoey63294

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Reply 2 on: Jul 5, 2018
Great answer, keep it coming :)

LVPMS

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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