Author Question: In which of the following situations would a component unit be required to prepare a CAFR, not just ... (Read 82 times)

Hungry!

  • Hero Member
  • *****
  • Posts: 1,071
In which of the following situations would a component unit be required to prepare a CAFR, not just the basic financial statements?
 
  A. The primary government prepares a CAFR.
  B. The component unit will be issuing general obligation bonds in the coming year.
  C. The component unit has prepared a CAFR in the past.
  D. There are no situations in GAAP where any entity is required to prepare a CAFR.

Question 2

Accrued expenses are ordinarily reported on the balance sheet as
 a. assets
  b. liabilities
  c. fixed assets
  d. prepaid expenses



cassie_ragen

  • Sr. Member
  • ****
  • Posts: 347
Answer to Question 1

D

Answer to Question 2

b



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

According to the CDC, approximately 31.7% of the U.S. population has high low-density lipoprotein (LDL) or "bad cholesterol" levels.

Did you know?

In the ancient and medieval periods, dysentery killed about ? of all babies before they reach 12 months of age. The disease was transferred through contaminated drinking water, because there was no way to adequately dispose of sewage, which contaminated the water.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

Did you know?

The FDA recognizes 118 routes of administration.

Did you know?

In 2012, nearly 24 milliion Americans, aged 12 and older, had abused an illicit drug, according to the National Institute on Drug Abuse (NIDA).

For a complete list of videos, visit our video library