Author Question: To what extent do organizations that use fund accounting also report on the entity as a whole? a. ... (Read 19 times)

audie · **on:** Jul 5, 2018

To what extent do organizations that use fund accounting also report on the entity as a whole?

a. Organizations that use fund accounting are not required to report on the entity as a whole
b. Organizations that choose to report on the entity as a whole are not permitted to use fund accounting for internal purposes
c. Organizations that use fund accounting are required to report on the entity as a whole
d. Organizations that use fund accounting have the option of reporting either on funds or on the organization as a whole

Question 2

The difference between the balance of a fixed asset account and the balance of its related accumulated depreciation account is termed the book value of the asset.
a. True
b. False

Indicate whether the statement is true or false