Author Question: Net income and net profit do notmean the same thing. a. True b. False Indicate whether the ... (Read 55 times)

magmichele12

  • Hero Member
  • *****
  • Posts: 559
Net income and net profit do notmean the same thing.
 a. True
  b. False
 
   Indicate whether the statement is true or false

Question 2

Assume that Kelly County issues 3,000,000 in general obligation bonds to build a new fire station and 7,000,000 in revenue bonds to finance the upgrade of their water treatment facility. How will these transactions affect the funds of the county?
 
  A. Financial assets of the Capital Projects Fund will increase by 10,000,000, as will the related fund liabilities.
  B. Financial assets and related fund liabilities of the Capital Projects Fund will increase by 3,000,000; current assets and long-term liabilities will increase by 7,000,000 in the Water Enterprise Fund.
  C. Financial assets, but not the related fund liabilities, will increase in the General Fund by 10,000,000.
  D. Financial assets, but not the related fund liabilities, will increase in the Capital Projects Fund by 3,000,000; current assets and the long-term liabilities will increase by 7,000,000 in the Water Enterprise Fund.



guyanai

  • Sr. Member
  • ****
  • Posts: 349
Answer to Question 1

False

Answer to Question 2

D



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

There are more sensory neurons in the tongue than in any other part of the body.

Did you know?

Aspirin is the most widely used drug in the world. It has even been recognized as such by the Guinness Book of World Records.

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

For a complete list of videos, visit our video library