Author Question: Expenses are recorded when a. cash is paid for services rendered b. a bill is received in advance ... (Read 125 times)

mydiamond · **on:** Jul 6, 2018

Expenses are recorded when
a. cash is paid for services rendered
b. a bill is received in advance of services rendered
c. assets are used in the process of earning revenue
d. assets are purchased

Question 2

The General Fund is partially funding the construction of a new police station. 80 of the project is being financed; the General Funds' share of the project is 1,000,000 . The Capital Project Fund would report the General funds' share as a

A. 1,000,000 other financing source.
B. 1,000,000 revenue.
C. 1,000,000 nonoperating revenue.
D. 1,000,000 other financing use.