Author Question: Generally accepted accounting principles are procedures and guidelines to be followed in the ... (Read 76 times)

Davideckstein7 · **on:** Jul 5, 2018

Generally accepted accounting principles are procedures and guidelines to be followed in the accounting/reporting process.
a. True
b. False
Indicate whether the statement is true or false

Question 2

A special tax has been levied by the city council in a formal vote. This new revenue source has been set aside for debt service purposes. This revenue source would most likely impact

A. Restricted fund balance.
B. Committed fund balance.
C. Assigned fund balance.
D. Unassigned fund balance.