Financial accounting provides information to all users, while the ...

[elizabeth18]

Financial accounting provides information to all users, while the main focus for managerial accounting is to provideinformation to the management.
 a. True
  b. False
 
   Indicate whether the statement is true or false

Question 2

Government A plans to create an Internal Service Fund to account for its new central warehouse. The General Fund loans the Internal Service Fund 100,000, which is going to pay back the loan interest-free in five years.
 
  The entry in the Internal Service Fund to record this transaction would be
 
   dr cr
 
  a. Cash 100,000 Revenue 100,000
  b. Cash 100,000 Capital Contribution 100,000
  c. Cash 100,000 Transfer from General Fund 100,000
  d. Cash 100,000
   Advance from General Fund 100,000
  e. Cash 100,000
   Accounts Payable 100,000

[fromAlphatoOmega22]

Answer to Question 1

True

Answer to Question 2

A

[elizabeth18]

Excellent

[bbburns21]

Thanks for the timely response, appreciate it