The General Fund provides a recurring annual subsidy to the Mass ...

[Zoey63294]

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

[Tabitha_2016]

Answer to Question 1

c

Answer to Question 2

True

[Zoey63294]

Wow, this really help

[kishoreddi]

Thanks for the timely response, appreciate it