Which of the following is not a typical governmental fund ...

[Jkov05]

Which of the following is not a typical governmental fund liability, and thus not an expenditure that is recognized when the liability is incurred?
 
  A. Accounts payable.
  B. Long-term note payable.
  C. Salaries payable.
  D. Vouchers payable.

Question 2

Ramierez Company received its first electric bill in the amount of 60 which will be paid next month. How will thistransaction affect the accounting equation?

[kilada]

Answer to Question 1

B

Answer to Question 2

Increase Liabilities (Accounts Payable) and decrease Owner's Equity (UtilitiesExpense)

[Jkov05]

YES! Correct, THANKS for helping me on my review

[Chelseyj.hasty]

Thanks for the timely response, appreciate it