This topic contains a solution. Click here to go to the answer

Author Question: The matching concept supports matching expenses with the related revenues. a. True b. False ... (Read 166 times)

sc00by25

  • Hero Member
  • *****
  • Posts: 596
The matching concept supports matching expenses with the related revenues.
 a. True
  b. False
 
   Indicate whether the statement is true or false

Question 2

A county uses an agency fund to collect property taxes for both itself and on behalf of the three municipalities within its borders. If the county collected 7,000 of municipal taxes during the month, what would be reported in the agency fund?
 
  A. Revenues of 7,000.
  B. Revenues of 7,000, offset by expenses of 7,000.
  C. An increase in equity in the agency fund of 7,000.
  D. An increase in assets of 7,000 and an increase in liabilities of 7,000.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

polinasid

  • Sr. Member
  • ****
  • Posts: 344
Answer to Question 1

True

Answer to Question 2

D




sc00by25

  • Member
  • Posts: 596
Reply 2 on: Jul 5, 2018
Thanks for the timely response, appreciate it


vickybb89

  • Member
  • Posts: 347
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

Did you know?

Amoebae are the simplest type of protozoans, and are characterized by a feeding and dividing trophozoite stage that moves by temporary extensions called pseudopodia or false feet.

Did you know?

Human kidneys will clean about 1 million gallons of blood in an average lifetime.

Did you know?

There are approximately 3 million unintended pregnancies in the United States each year.

Did you know?

Drying your hands with a paper towel will reduce the bacterial count on your hands by 45–60%.

Did you know?

More than 2,500 barbiturates have been synthesized. At the height of their popularity, about 50 were marketed for human use.

For a complete list of videos, visit our video library