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Author Question: If General Fund employees earn salaries during the year that have not been paid at year end (accrued ... (Read 122 times)

sheilaspns

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on: Jul 5, 2018
If General Fund employees earn salaries during the year that have not been paid at year end (accrued salaries at year end), they should be reported as expenditures
 
  a. in the current year in all cases.
  b. in the current year if paid within the first 60 days of the next year.
  c. in the next year in all cases.
  d. in either the current year or in the next year depending upon the government's policy. The policy must be applied consistently.

Question 2

The process of transferring the debits and credits from the journal entries to the accounts is known as posting.
 a. True
  b. False
 
   Indicate whether the statement is true or false


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sultana.d

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

A

Answer to Question 2

True


sheilaspns

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


sultana.d

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


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