Author Question: Two common areas of accounting that respectively provide information to internal and external users ... (Read 106 times)

clippers! · **on:** Jul 6, 2018

Two common areas of accounting that respectively provide information to internal and external users are
a. forensic accounting and financial accounting
b. managerial accounting and financial accounting
c. managerial accounting and environmental accounting
d. financial accounting and tax accounting systems

Question 2

Assume that an Internal Service Fund purchases land to build a new warehousing facility and partially finances the transaction with a loan from a local lending institution. The Internal Service Fund will

a. increase Invested in Capital Assets, Net of Related Debt, assuming the purchase price exceeded the related borrowing.
b. report capital outlay expenditures.
c. depreciate the cost of the land over its useful life.
d. None of the above.
e. Both items a and c.