Author Question: The entry to record adoption of a Special Revenue Fund budget should include a a. debit to ... (Read 73 times)

joblessjake

  • Hero Member
  • *****
  • Posts: 555
The entry to record adoption of a Special Revenue Fund budget should include a
 
  a. debit to Estimated Revenues and a credit to Expenditures.
  b. debit to Appropriations and a credit to Estimated Revenues.
  c. debit to Estimated Revenues and a credit to Appropriations.
  d. debit to Revenues and a credit to Appropriations.

Question 2

Explain the meaning of the business entity concept.



tennis14576

  • Sr. Member
  • ****
  • Posts: 334
Answer to Question 1

C

Answer to Question 2

The business entity concept limits the economic data in an accounting system todata related directly to the activities of the business. In other words, the businessis viewed as an entity separate from its owners, creditors, or other businesses.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

Did you know?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

Did you know?

Most childhood vaccines are 90–99% effective in preventing disease. Side effects are rarely serious.

Did you know?

According to the National Institute of Environmental Health Sciences, lung disease is the third leading killer in the United States, responsible for one in seven deaths. It is the leading cause of death among infants under the age of one year.

Did you know?

Calcitonin is a naturally occurring hormone. In women who are at least 5 years beyond menopause, it slows bone loss and increases spinal bone density.

For a complete list of videos, visit our video library