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Author Question: Fees payable would appear on the balance sheet as a(n) a. asset b. liability c. fixed asset d. ... (Read 1147 times)

Brittanyd9008

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on: Jul 5, 2018
Fees payable would appear on the balance sheet as a(n)
 a. asset
  b. liability
  c. fixed asset
  d. unearned revenue

Question 2

A government establishes an Investment Trust Fund. During the year, it receives 500,000 from other separate legal entities to invest. The Investment Trust Fund should report this activity in the statement of changes in net position as
 
  A. Revenues.
  B. Other financing sources.
  C. Additions.
  D. Should not be reported.


laurnthompson

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

b

Answer to Question 2

C


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