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Author Question: An Enterprise Fund incurs 35,000 in interest during the current year related to its outstanding ... (Read 93 times)

ETearle

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on: Jul 5, 2018
An Enterprise Fund incurs 35,000 in interest during the current year related to its outstanding bonds. The 35,000 will be reported as
 
  A. Operating expenses.
  B. Non-operating expenses.
  C. Other financing uses.
  D. Capitalized interest because all interest must be capitalized in an Enterprise fund.

Question 2

Which of the following is considered to be an accrued expense?
 a. A computer technician has installed the latest software updates and was paid on the same day.
  b. A computer technician has been paid in advance to install software updates as they become available.
  c. A computer technician has just signed an agreement with you regarding pricing for future work.
  d. A computer technician has installed the latest software updates, but you have not received an invoice or made payment.


Rilsmarie951

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

B

Answer to Question 2

d


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ETearle

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Reply #2 on: Jul 5, 2018
Thank you :)


Rilsmarie951

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Reply #3 on: Jul 5, 2018
Happy to help you


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