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

Author Question: A city's General Fund general ledger includes accounts called Estimated Revenues, Appropriations, ... (Read 97 times)

JMatthes

  • Hero Member
  • *****
  • Posts: 578
A city's General Fund general ledger includes accounts called Estimated Revenues, Appropriations, and Encumbrances. This indicates that the city
 
  A. Formally integrates its budget into its accounts.
  B. Uses a cash plus encumbrances basis of accounting.
  C. Maintains its accounts on an accrual basis.
  D. Erroneously reports encumbrances as expenditures.

Question 2

Ashley Woods Village paid 1,000,000 principal and 200,000 interest on its general obligation bonds that it issued to finance widening of a local thoroughfare. This transaction will most likely
 
  A. Decrease fund balance in the Capital Projects Fund by 1,000,000
  B. Decrease fund balance in the Capital Projects Fund by 1,200,000
  C. Decrease fund balance in the Debt Service Fund by 1,000,000
  D. Decrease fund balance in the Debt Service Fund by 1,200,000



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

huda

  • Sr. Member
  • ****
  • Posts: 304
Answer to Question 1

A

Answer to Question 2

D




JMatthes

  • Member
  • Posts: 578
Reply 2 on: Jul 6, 2018
YES! Correct, THANKS for helping me on my review


jomama

  • Member
  • Posts: 346
Reply 3 on: Yesterday
:D TYSM

 

Did you know?

There are over 65,000 known species of protozoa. About 10,000 species are parasitic.

Did you know?

Fungal nail infections account for up to 30% of all skin infections. They affect 5% of the general population—mostly people over the age of 70.

Did you know?

People with high total cholesterol have about two times the risk for heart disease as people with ideal levels.

Did you know?

Asthma attacks and symptoms usually get started by specific triggers (such as viruses, allergies, gases, and air particles). You should talk to your doctor about these triggers and find ways to avoid or get rid of them.

Did you know?

Sperm cells are so tiny that 400 to 500 million (400,000,000–500,000,000) of them fit onto 1 tsp.

For a complete list of videos, visit our video library